GEG has partnered with China State Construction International Holdings Ltd and construction is scheduled to take around three years before completion.
The operator will receive a MOP245m performance bond from China Construction “to guarantee China Construction’s due performance of the relevant contract services,” while GEG will pay the construction company according to monthly evaluations carried out by external consultants.
The group stated it is positioned for long-term growth and said Phase 4 of the resort fits within its developmental targets: “The Group has been proceeding with the development and expansion of the current footprint in Macau, and continuously reviewing and refining plans to ensure a world-class optimal development. Cotai Phase 4 has been one of our key development projects.”
GEG is currently preparing to launch its Phase 3, featuring 1,500 hotel rooms, additional casino areas and an arena with 16,000 seats.
The launch was pushed back from the first half of 2021 to the second half, with the COVID-19 pandemic delaying development. GEG has warned it’s likely the pandemic will also impact plans for Phase 4.