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MLD Setubal Mixed-Use Development Portugal - Project Profile

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Synopsis


"MLD Setubal Mixed-Use Development Portugal - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "MLD Setubal Mixed-Use Development Portugal - Project Profile" is part of Timetrics database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary


The Macau Legend Development Limited (MLD) plans to construct Setubal Mixed-Use Development in Setubal, Portugal.

The company has entered into a Memorandum of Understanding ("MoU") with the Setbal Municipality for the proposed development of an integrated leisure, tourism, and entertainment project (the "Setbal Project").

The first phase of the project includes the construction of a hotel, a shopping area, a residential area, a marina, a parking lot, a new multi-sport pavilion and a gaming arcade with slot machines.

The second phase includes the construction of a hotel, a marina, new facilities for the Clube Naval Setubalense (Setubal Naval Club) and, a cultural and commercial center.

MLD has entered into a Heads of Agreement ("HoA") with three companies in Portugal Fundo Aquarius, Amorim Turismo, and B&G to establish a new company (the "Joint Venture Company") to jointly develop the Setbal Project.

As part of this proposed transaction, B&G (jointly owned by Fundo Aquarius and Amorim Turismo) will transfer the existing Troia Casino and Concession into the Joint Venture Company. The concession for the Tria Casino expires in 2031.

A Joint Venture Company will own and operate the existing Tria Casino and will seek to use debt financing to develop the Setbal Project. B&G and Macau Legend.

City Council and the Port Administration of Setbal and Sesimbra (APSS) are preparing the specifications for the public tender for the construction of the marina, which will be submitted by MLD to materialize the project.

Planning activities are underway.

Scope


The project involves the construction of a mixed-use facility in Setubal, Portugal.

The US$277 million project include the following:

1. Construction of two hotels

2. Construction of 60 apartments

3. Construction of two Marina

4. Construction of two Naval clubs

5. Construction of a cultural and commercial center

6. Installation of related equipment

Reasons To Buy


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Reports Details

Published Date : Apr 2018
No. of Pages :6
Country :Portugal
Category :Construction
Publisher :Timetric
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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