SJM Holdings is currently working on its plans to transform a key area of Macau. The company plans to turn it into an attractive tourist destination, according to the terms of a new 10-year license. The company has been tasked with redeveloping Avenida de Almeida Ribeiro and the Inner Harbor, as well as creating new cultural attractions, including the revitalization of the "Macau Palace" (floating boat).
Daisy Ho, chairman and CEO of SJM Holdings, told local media that the revitalization plan also covers the Avenida de Almeida Ribeiro área, which is also known as San Ma Lo, as well as piers 14 and 16. She also noted that SJM submitted the construction plan earlier this year and the project is expected to begin either later this year or early next year.
Ho said the construction phase will take approximately two years, which means the redevelopment plan is expected to be completed by 2026.
