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Hong Kong Government’s Removal of All Property Cooling Measures Supported Residential Sales Rebound and Price Recovery in March

Office leasing sentiment improved, high street vacancies stabilized


HONG KONG SAR – Media OutReach Newswire – 10 April 2024 – Global real estate services firm Cushman & Wakefield today held its Hong Kong Property Markets Q1 2024 Review and Outlook press conference. Following the Government’s announcement in the latest Budget that it would lift all demand-side management measures for residential properties, the market responded positively, with primary and secondary residential transactions strengthening notably and home prices picking up from March onwards. In the office sector, overall net absorption in Q1 remained positive, with the quarter also witnessing a y-o-y rise for new lettings, despite the high availability rate keeping rents under pressure. For retail, visitor spending continued to support a steady recovery in the market, with the overall high street vacancy rate remaining broadly stable.

Grade A office leasing market: Net absorption stayed positive in Q1 2024, companies seeking upgrading and relocation opportunities

Overall net absorption of Grade A office space in Q1 remained positive at 264,200 sq ft, mainly driven by large-scale leasing transactions at new projects in Kowloon East, with the submarket recording net absorption of 289,700 sq ft. Four new office buildings completed in the quarter, located in Greater Central, Wan Chai/Causeway Bay, Hong Kong South, and Kowloon West. The expansion of leasable office space brought the availability rate up to 19.6%. Rental levels remained under pressure in the quarter, but the pace of decline was slower, edging down 0.6% q-o-q in Q1, and 6.7% y-o-y (Chart 1).

Chart 1: Rents of Grade A offices in Hong Kong

https://drive.google.com/file/d/1SyiYOG7hz48uZfHojgCYM3MjJjKNqsna/view?usp=drivesdk

Source: Cushman & Wakefield Research

In terms of new letting activities, a total of 889,000 sq ft of leased space was recorded in Q1, an increase of more than 40% y-o-y. Kowloon East was the most sought-after submarket, accounting for more than 40% of the newly leased space, with the district benefitting from attractive rents with a greater offering of new prime quality buildings and ESG-certified office space. By business sector, the public sector (23%) accounted for the highest share of newly leased space, while the banking and finance (21%), professional services (15%) and insurance (13%) sectors also recorded double-digit shares.

John Siu, Managing Director, Head of Project and Occupier Services, Hong Kong, Cushman & Wakefield, said, “We have observed several large-scale office leasing transactions over the quarter, while the total new lettings in the past three quarters were higher than the five-year quarterly average of 640,000 sq ft, indicating a relative improvement in leasing sentiment. Currently, many multinational companies are making ESG a key requirement when choosing local offices. With more new office buildings scheduled for completion this year, there will be a greater spectrum of quality offices with international ESG building certifications available in the market, which will encourage more upgrading and relocation activities to take place while rents are still attractive.”

Retail leasing market: Overall high street vacancy rate stabilized, rents across districts rose steadily

Against the backdrop of changing consumption patterns from both tourists and residents, total Hong Kong retail sales for the January to February 2024 period combined recorded HK$70.3 billion, growing at a modest 1.4% y-o-y, a somewhat slower pace compared to last year. Among retail categories, sales of Medicines & Cosmetics recorded y-o-y growth of 21.7%, followed by Jewellery & Watches and Fashion & Accessories at 8.8% and 7.4%, respectively. Supported by tourist spending, the overall high street vacancy rate largely stabilized. Retail leasing activities were relatively more concentrated on Hong Kong Island in Q1, with the vacancy rate in Central dropping by 1.5 percentage points q-o-q to record 7.0%, while vacancy in Causeway Bay remained stable at 2.6%. However, with some festive period pop-up stores now departing high streets, vacancy rates in Mongkok and Tsimshatsui rose to 11.1% and 11.8%, respectively.

Despite the city’s inbound tourism recovery, the structural shift of Hong Kong residents more frequently traveling northbound to spend in the Greater Bay Area mainland cities has hindered local consumption in town, in turn dampening recovery in retail rent growth. As a result, high street rents across retail districts recorded mild growth in Q1, ranging from 0% to 1% q-o-q. In the F&B sector, local operators generally remained cautious, leading to softer growth for F&B rents. Causeway Bay and Central F&B rents edged up 1% q-o-q, while Tsimshatsui and Mongkok recorded a drop of 2% q-o-q.

Chart 2: High street retail rents in prime districts in Hong Kong

https://drive.google.com/file/d/15xK6ZQQd7oYy6bbG6THJLDvbniwxiLaw/view?usp=drivesdk

Source: Cushman & Wakefield Research

Kevin Lam, Executive Director, Head of Retail Services, Agency & Management, Hong Kong, Cushman & Wakefield, commented, “Retail leasing and expansion activities in the past quarter were concentrated on Hong Kong Island. While rents are still at an attractive level, retailers are looking for consolidation and relocation opportunities in prime locations. Although the trend of Hong Kong residents traveling more frequently northbound to spend in mainland cities has hindered local consumption and hence rental recovery, we believe that the government initiatives to promote the city’s tourism and develop a mega event economy could help generate footfall on high streets, as well as giving a further boost to tourist retail spending.

“At the same time, the Individual Visit Scheme has been further expanded to more mainland cities, and it is expected to benefit trades such as the F&B and medicines & cosmetics sectors. What’s more, Hong

Kong Immigration Department data shows that the number of new applications approved under various talent and admission schemes in 2023 was four times higher than that in 2022. The arrivals of talent and their families will in turn become a new source of spending power in the local market. We have also seen mainland retailers becoming more active in entering the Hong Kong retail market. Apart from some popular mainland F&B chains, experiential retail, lifestyle and athleisure brand names are also actively exploring expansion opportunities in Hong Kong, offering a diversity of brand-new consumer experiences to the city’s retail ecosystem. We expect retail rents to maintain modest and low single-digit growth in 1H 2024.”


Residential market: Housing market bottomed out in February following budget announcement, home prices now expected to rebound 0% to 3% in 1H 2024

The residential market finally witnessed a rebound in Q1 2024. Although overall residential transactions remained subdued in January and February before the Hong Kong Government Budget announcement, market sentiment improved notably following the government’s decision on February 28 to completely withdraw all demand-side management cooling measures in the housing market (known as “spicy measures”). Developers took advantage of the situation and actively launched new projects, while potential buyers, investors, and non-local buyers all became active again in seeking residential properties. This supported transactions in both primary and secondary markets. Total residential transaction numbers climbed 29% q-o-q to reach around 9,820 units in Q1 2024, although this still represented a drop of 30% y-o-y. In the month of March, residential transactions rebounded to more than 3,970, marking a significant monthly increase of 67% (Figure 3).

Chart 3: Number of residential sale & purchase agreements

https://drive.google.com/file/d/1FlbjQCHQmUherZEdnSdDIjQsDIZXzoMR/view?usp=drivesdk

Source: Land Registry, Cushman & Wakefield Research

Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield, mentioned, “The Rating and Valuation Department data shows that overall residential prices in January and February continued to decline, which combined a 2.9% drop from end-2023, and resulted in a 14.6% decline over the past ten months. However, according to Cushman & Wakefield’s small to medium-sized residential price index, home prices bottomed out in February and started to rebound after the withdrawal of all the cooling measures, with a monthly increase of around 1.5% in March. Home prices in all our market segments have turned from a decline to a rise since March. Among the segments, the price level rose most notably in City One Shatin, representing the small-sized market, with a monthly increase of 14.2% in March and a quarterly increase of 10.7%. Taikoo Shing, representing the middle-sized market, recorded a 1.4% monthly increase in March, but still a slight correction of 1.4% over the quarter. As for the luxury segment, Residence Bel-Air saw a 0.8% increase in March, with an overall 2.1% decrease in Q1 2024.”

Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield, added, “Looking ahead, with the complete withdrawal of cooling measures by the government, market confidence is gradually stabilizing and improving. While developers actively promote their new projects, the supply of second-hand properties has also increased, leading to a notable rebound of transaction volume in both primary and secondary markets. This also indicates that pent-up demand is being gradually released from first-time buyers, upgraders, non-local buyers, and even investors after the withdrawal of cooling measures. We forecast a 30% to 40% rebound in residential transaction volume for the full year of 2024, reaching a level of 55,000 to 60,000 units. As for home prices, we believe that the pricing level has now bottomed and will stabilize, although a significant rebound is not likely. The housing market is still facing economic uncertainties amid a high interest rate environment. This is combined with abundant supply in the primary market, where developers are keeping asking prices aligned to the market, in turn limiting homeowners’ ability to raise prices in the secondary market. For 1H 2024, we expect the overall residential price to mildly recover in the range of 0% to +3%. If the US Federal Reserve confirms interest rate cuts in 2H 2024, we anticipate a potential full-year price rebound to reach +5% to +7%.”

Please click here to download photos and presentation deck.

(From left to right) Kevin Lam, Executive Director, Head of Retail Services, Agency & Management, Hong Kong, Cushman & Wakefield; John Siu, Managing Director, Head of Project and Occupier Services, Hong Kong, Cushman & Wakefield; Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield and Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield.

Hashtag: #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit or follow us on LinkedIn ().

PolyU ranked top 20 globally for five subjects in Quacquarelli Symonds (QS) World University Rankings by Subject 2024; Four subjects ranked No. 1 in Hong Kong


HONG KONG SAR – Media OutReach Newswire – 10 April 2024 – The Hong Kong Polytechnic University (PolyU) has attained remarkable success in the Quacquarelli Symonds (QS) World University Rankings by Subject 2024, ranking within the top 20 globally for five subjects and the first in Hong Kong for four subjects. Several engineering and technology-related fields also placed in the top 100 worldwide.

PolyU placed in the global top 20 for subjects in Hospitality and Leisure Management (11th), Civil & Structural Engineering (14th), Architecture & Built Environment (14th), Art & Design (19th) and Marketing (19th). Additionally, PolyU was ranked first in Hong Kong for Hospitality and Leisure Management, Engineering – Civil & Structural, Art & Design, and Marketing reaffirming the University’s leadership both internationally and locally.

Furthermore, PolyU ranked in the top 100 globally in 21 subjects, among which many are related to engineering and technology, including: Civil & Structural Engineering, Computer Science & Information Systems, Data Science & Artificial Intelligence, Electrical & Electronic Engineering, Engineering & Technology (Broad Subject Area), and Mechanical, Aeronautical & Manufacturing Engineering.

Prof. Jin-Guang TENG, President of PolyU, said, “We are pleased to receive international recognition across multiple disciplines. PolyU is committed to becoming an innovative, world-class university with a strong sense of social responsibility. Moving forward, the University will continue to pursue excellence in education, research, innovation and entrepreneurship, with the aim of playing an increasingly important role on the global stage of higher education.”

The QS World University Rankings by Subject evaluated institutions across 54 subjects in five broad subject areas. The subject rankings are weighted based on academic reputation, employer reputation, research citations per paper, the H-index and international research network.

Hashtag: #PolyU #QSWorldUniversityRankings #Education

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BingX Launches $HIGHER and $Dino Spot Trading Amid Rising Popularity of Base Chain

Leading Crypto Exchange BingX Becomes the First Crypto Exchange to List $HIGHER and $Dino

VILNIUS, LITHUANIA – Media OutReach Newswire – 10 April 2024 – The Base Chain ecosystem is witnessing a surge in popularity. Within this vibrant space, Warpcast, a social community platform, has carved a niche for itself. With its enticing prospect of earning Degen coin airdrops, Warpcast has seen a steady rise in its user base. Now, the platform is poised to take things a step further with the introduction of its very own social meme token – $HIGHER.

About $HIGHER

HIGHER Coin is riding the social wave in the Base Chain Universe. Building upon its established user base, Warpcast has launched HIGHER coin, a social meme token. Meme tokens often gain traction through community sentiment and shared humor within a specific online space. In the case of $HIGHER, its value is intrinsically linked to the popularity and engagement within the Warpcast community.
With the launch of $HIGHER, Warpcast is aiming to solidify its position as a leading social hub within the Base Chain ecosystem. The token’s success will depend heavily on Warpcast’s ability to maintain a vibrant and engaged user base. Given the platform’s existing momentum and the inherent intrigue surrounding social meme tokens, $HIGHER has the potential to become a major player in the ever-evolving world of cryptocurrency.
Trading of HIGHER will start according to the following schedule:
Spot trading for HIGHER USDT opens at 07:00:00 (UTC+0) on April 9, 2024.

About $DINO

DINO coin is a meme coin launched on the Base chain, building trust in the community by announcing a new ERC50 protocol designed for fair sales. This protocol automates nearly all pre-sale functions, including token allocation, position locking, refunds, and liquidity pool (LP) injection. The project promises “no administrators, no mouse warehouses, and no RUGs” thanks to these features.

Trading of DINO will start according to the following schedule:
Spot trading for DINO USDT opens at 06:00:00 (UTC+0) on 2024-04-10
“We are thrilled to offer our users the opportunity to trade these popular tokens,” said Jason, Researcher as BingX QA. “As one of the leading cryptocurrency exchanges, BingX is dedicated to providing a diverse range of assets and supporting the growth of innovative projects within the Base Chain ecosystem.”
Traders can now access HIGHER on BingX and take advantage of the platform’s advanced trading features and liquidity. BingX Spot gives users early access to some of the most sought-after tokens in the space, with more than 700 trading pairs.

Hashtag: #base #degen #dino #token #meme #bingx #erc50

The issuer is solely responsible for the content of this announcement.

BingX

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including Bitcoin

and Solana spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC’s principal partner, marking an exciting debut in the world of sports.

Prince Holding Group Champions Resilience and Safety at International Mine Awareness Day Celebration


PHNOM PENH, CAMBODIA – Media OutReach Newswire – 10 April 2024 – Prince Holding Group, one of the leading business groups in Cambodia, has been graciously invited by the ASEAN Regional Mine Action Center (ARMAC) to participate in the commemoration of International Mine Awareness Day and Assistance in Mine Action. Themed ‘Rising Stronger: Building Resilience in Mine-Affected Regions,’ the event highlights the collective efforts of ASEAN countries to address the challenges posed by landmines and unexploded ordnance (UXO) both regionally and globally.

Prince Holding Group, one of the leading business groups in Cambodia, was invited by the ASEAN Regional Mine Action Center (ARMAC) to celebrate International Mine Awareness Day and Assistance in Mine Action, themed 'Rising Stronger: Building Resilience in Mine-Affected Regions.'
Prince Holding Group, one of the leading business groups in Cambodia, was invited by the ASEAN Regional Mine Action Center (ARMAC) to celebrate International Mine Awareness Day and Assistance in Mine Action, themed ‘Rising Stronger: Building Resilience in Mine-Affected Regions.’

From April 3 to April 6, this crucial conference featured ARMAC-led discussions, interactive sessions at the APOPO Visitor Center, and participation in the Cambodian Mine Action and Victim Assistance Authority’s (CMAA) observance of International Mine Awareness Day. Participants also engaged in guided tours of active minefields by the HALO Trust, visits to the CMAC Peace Museum, and a strategic reflection session with Nobel Peace Prize Laureate Sister Denise Coghlan.

Ms. Rothna Buth, Executive Director of ARMAC declared, “In challenging times, we unite to become stronger. Our commitment to mine action is not just about removing landmines but also about building resilient communities for a future free from the marks of conflict.”

The event welcomed notable figures, including H.E. Mr. Buakeo Phumvongsay, Ambassador Extraordinary and Plenipotentiary of the Lao People’s Democratic Republic to Cambodia, and H.E. Dr. Ly Thuch, Senior Minister and First Vice President of the CMAA, alongside representatives from ASEAN member states, Japan, and other distinguished guests.

“Prince Group reaffirms our commitment to a future where every step we take is on safe ground. Together, we turn the tide against the legacy of landmines, building a path to peace, security, and development for all,” stated Mr. Gabriel Tan, Chief Communications Officer of Prince Holding Group.

As a champion for community welfare and environmental care, Prince Group reiterates its commitment to driving sustainable change. This event aligns with their mission to secure safer, prosperous futures in mine-impacted regions, emphasizing the value of care, teamwork, and resilience.Hashtag: #PrinceHoldingGroup

The issuer is solely responsible for the content of this announcement.

About Prince Holding Group

Prince Holding Group is one of Cambodia’s largest business groups, spanning across real estate development, financial services, and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, and Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 100 businesses in Cambodia operating in real estate development, banking, finance, tourism, logistics, technology, food and beverages, lifestyle sectors, etc.

Leveraging a network of industrial, business, and financial professionals across Asia, Prince Holding Group is firmly committed to the long-term development of Cambodia.

Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

Vietnamese Frozen Seafood Producer Secures USD 1.5 Million Export Factoring Facility from Tradewind Finance

HONG KONG SAR – Media OutReach Newswire – 10 April 2024 – On the path to recovery, Vietnam’s seafood exports reached nearly USD 2 billion in the first quarter of 2024, increasing 8 percent year on year, during which the US, Japan and China were the largest buyers, according to Vietnam Association of Seafood Exporters and Producers (VASEP). The country is forecasted to earn USD 9.5 billion from seafood exports this year, surpassing the USD 9 billion earned in 2023. Shrimp and shrimp products are anticipated to remain the main contributors to this growth.

Despite the promising outlook, exporters in this industry face challenges such as oversupply, high inventories, and lower prices, as highlighted by VASEP’s chairwoman, Nguyen Thi Thu Sac. To address these challenges and ensure a secure supply chain, a local frozen seafood producer has partnered with Tradewind Finance. Previously funded by banks, the company was attracted by the alternative finance provider’s reputation for their innovative invoice financing solutions and streamlined approval process.

The timely delivery of the USD 1.5 million export factoring facility as well as the credit insurance that came as part of the trade finance package allowed the leading supplier of fish to unlock a considerable amount of cash flow tied up in their accounts receivables and diversify their buyer portfolio with confidence. The flexible financial arrangement helped remove the exporter’s bottleneck in unpaid invoices, allowing them to expand operations, seize growth opportunities, and lay the foundation for the next phase of growth in the global market.

Dickson Au, Regional CEO – Far East, at Tradewind Hong Kong, expressed his excitement about the collaboration, stating, “We are honored to bring our rich expertise and customized financing solutions to this steadily growing client. The partnership goes beyond funding; it promises to help the Vietnamese exporter navigate the tides of global trade with confidence and financial resilience.”

With over 24 years of experience in trade finance across various sectors, Tradewind not only serves as a reliable financier but also as a global business protector, providing one-stop trade finance solutions for exporters, enabling them to stay competitive, pursue sustainable growth, and achieve profitability amid the constantly changing environment.

Hashtag: #tradewindfinance #tradefinance #exportfactoring #seafood



Wechat: 德益世国际保理

The issuer is solely responsible for the content of this announcement.

About Tradewind Finance

Founded in 2000, maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Peru, Turkey, UAE, and the USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single package of trade finance products, Tradewind brings streamlined, flexible, and best-in-class services to the world’s exporters and importers.

Galaxy Macau Celebrates A Trio Of Prestigious Accolades From Travel + Leisure China, The Ttg China Travel Awards, And The Vogue Hong Kong Beauty Awards

Galaxy Macau ranked in ‘China’s Top 100 Hotels’ by Travel + Leisure China, Andaz Macau named ‘Best New Hotel in China’ at the TTG China Travel Awards, and Banyan Tree Spa Macau recognized as the ‘Best Hotel Spa’ at the Vogue Hong Kong Beauty Awards


MACAU SAR – Media OutReach Newswire – 10 April 2024 – Galaxy Macau™ (“Galaxy Macau”) is proud to announce that it has received a trio of prestigious awards from three highly respected publications, highlighting the continued excellence and innovation of the renowned integrated resort and its world-class luxury hospitality brands. Galaxy Macau was ranked in ‘China’s Top 100 Hotels’ by Travel + Leisure, Andaz Macau was named ‘Best New Hotel in China’ at the TTG China Travel Awards, and Banyan Tree Spa Macau was recognized as the ‘Best Hotel Spa’ at the Vogue Hong Kong Beauty Awards 2024.

Galaxy Macau ranked in ‘China’s Top 100 Hotels’ by Travel + Leisure China.
Galaxy Macau ranked in ‘China’s Top 100 Hotels’ by Travel + Leisure China.

The first of the three accolades arrived on February 22, when Galaxy Macau was ranked in ‘China’s Top 100 Hotels’ at the Travel + Leisure 2023 China Travel Awards. Launched in 2007 by world-renowned travel magazine Travel + Leisure, the Travel + Leisure China Travel Awards partners with Ctrip’s “Reputation Ranking” to evaluate hotels, destinations, and scenic spots using a variety of criteria, providing an authoritative benchmark for China’s tourism industry.

The next esteemed publication to recognise a Galaxy Macau hotel was Vogue Hong Kong, with Banyan Tree Spa Macau being named ‘Best Hotel Spa’ at the Vogue Hong Kong Beauty Awards 2024 on March 15. Celebrating excellence in the world of beauty and skincare, the Vogue Hong Kong Beauty Awards recognize outstanding products, brands, and innovations that have made a significant impact over the past year.

Andaz Macau named ‘Best New Hotel in China’ at the TTG China Travel Awards.
Andaz Macau named ‘Best New Hotel in China’ at the TTG China Travel Awards.

And the most recent accolade was announced at the 17th Annual TTG China Travel Awards 2024, which took place in Shanghai on March 28, with Andaz Macau being named ‘Best New Hotel in China’, just six months after opening. Launched in 2008, the TTG China Travel Awards honors the best of Greater China’s travel industry, including airlines, hotels and resorts, serviced residences, and travel services, as voted for by travel consultants, tour operators, and destination management professionals who are readers of TTG China, TTG-BTmice China, TTG Asia, TTG India, TTGmice, TTGassociations, and TTG Asia Luxury. The TTG China Travel Awards are modelled after the annual flagship TTG Travel Awards, which have honored the best in Asia Pacific’s travel and tourism organisations since 1989, and are regarded as the most prestigious travel industry awards in the region.

Banyan Tree Spa Macau recognized as the ‘Best Hotel Spa’ at the Vogue Hong Kong Beauty Awards.
Banyan Tree Spa Macau recognized as the ‘Best Hotel Spa’ at the Vogue Hong Kong Beauty Awards.

“We are thrilled and honoured that Galaxy Macau and two hotels within the resort have been bestowed with this trio of prestigious awards,” said Kevin Kelley, Chief Operating Officer (Macau), Galaxy Entertainment Group. “Our team is committed to continually raising the bar and bringing our guests new and exciting experiences, as well as providing state-of-the-art facilities complemented by our unique Asian Heart service philosophy, so it makes me very proud to see these efforts recognized by guests and esteemed industry professionals. As well as being a testament to our team’s dedication and hard work, accolades such as these inspire us to strive for even higher levels of excellence in all areas, and to do everything we can to support the Macau SAR Government’s efforts to solidify Macau’s position as a World Center of Tourism and Leisure.”

For more information and news about Galaxy Macau, please visit www.galaxymacau.com.

For more high-resolution images, please download from the following link:
https://www.galaxymacaulibrary.com/gallery/Hotel-Awards/G0000Eu8hwZobDE8
Password: galaxy
Hashtag: #galaxymacau #banyantreemacau #andazmacau


The issuer is solely responsible for the content of this announcement.

About Galaxy Macau Integrated Resort

Galaxy Macau™, The World-class Luxury Integrated Resort delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Raffles at Galaxy Macau, Andaz Macau and Broadway Hotel. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz-Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai’s golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff.

Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

For more details, please visit , and .

Lao-Luxembourg Health and Nutrition Program Charts Path Forward, Endorses Extension of Activities

Photo supplied.

In a strategic move to bolster healthcare initiatives, the Lao-Luxembourg Health and Nutrition Program held its second Steering Committee Meeting, which reviewed 2023 accomplishments, outlined 2024 strategies, and greenlit a substantial budget increase surpassing EUR 35 million for program expansion. The meeting was co-chaired by Minister of Health of Laos Bounfeng Poummalaysith and Chargé d’Affaires of the Luxembourg Embassy in Laos Thomas Lammar.

Steering Committee members assessed the program’s accomplishments in its first year and charted the course for continued success in 2024. A key outcome was the official approval of the annual operational plan for 2024, ensuring a clear roadmap for program activities.

A significant outcome of the meeting was the official adoption of a budget increase to strengthen healthcare infrastructure and systems throughout Lao PDR, as announced during the visit of Luxembourg’s Vice-Prime Minister in Vientiane on 8 February. This additional contribution, one day after World Health Day, reflects a shared commitment to respect, protect, and fulfil the fundamental human right to access quality health care, education and information.

Approximately EUR 2 million will be directed towards the Lao Red Cross and the national blood transfusion center to improve the blood cold chain system throughout the country. This investment will ensure the safe and effective delivery of lifesaving blood donations across Laos.

More than one million euros reallocated from the previous intervention will support renovations and equipment for the Maria Theresa Provincial Hospital in Vientiane Province. Furthermore, the Steering Committee approved a collaboration with the Lao Statistics Bureau (LSB) valued at EUR 200,000.  This collaboration will facilitate the finalization and dissemination of the results of the third Lao Social Indicators Survey (LSIS III).  This crucial data will provide invaluable insights into the current health and nutrition landscape of Laos, informing future policies and interventions and ensuring they address the most pressing needs of the Lao people.

“We are deeply grateful to the government of Luxembourg for their continuous commitment to strengthening healthcare in Laos,” stated the minister during the meeting. “In light of our shared goals, I encourage all stakeholders to work together as one team, pooling resources for maximum efficiency and effectiveness.”

“Today’s meeting was essential to reaffirm our collective commitment to advancing healthcare in Laos, especially for the most vulnerable,” Lammar stated. “Luxembourg’s commitment to the health sector remains steadfast, even after 20 years of cooperation and over EUR 100 million spent over the years.” He further expressed his gratitude to the Ministry of Health for its past and continuous cooperation.

The Health and Nutrition Program is a testament to the ongoing collaboration between the governments of Laos and Luxembourg. With a renewed focus, increased funding, and a commitment to data-driven decision-making, the program is well-positioned to make a significant impact on the health and well-being of the Lao people.

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The Health and Nutrition program is funded by the Government of Luxembourg and jointly implemented by the Ministry of Health and LuxDev, the Luxembourg Development Cooperation Agency.

Local Artisan ‘Odd’ Takes on Grand Peafowl Replica for Lao New Year Parade in Luang Prabang

Crafting Tradition: Luang Prabang's Stunning Peafowl Replica for the Nang Sangkhan Procession
Peafowl replica Project Manager Ounhuean “Odd” Phommany

In Luang Prabang, Laos, the Nang Sangkhan Procession marks the start of the Lao New Year festivities. At the heart of this annual event is the Miss Lao New Year, who rides atop an animal replica through the town’s main streets. This year, a peafowl replica takes center stage, crafted by seasoned artist Ounhuean “Odd” Phommany and his team of young experts.