One Central, the new luxury shopping mall and apartment complex connected to MGM Grand Macau casino, officially opened on Sunday.
The site has been developed by Hongkong Land and shipping and property conglomerate Shun Tak, managed by Pansy Ho, a 50 percent equity partner alongside MGM MIRAGE in MGM Grand Macau.
The aim of the new property is to drive high-income residents to the casino and VIP players to the luxury mall and apartments. The residential portion, known as One Central Residences, offers 200,000 sq. ft of space, consisting of seven residential blocks of 32 to 38 storeys, offering approximately 800 units with one to four bedrooms. In 2006 Hongkong Land announced 80 percent of the residential units had been presold, generating a notional HKD5.2 billion (USD670 million) in income for the developers. In the meantime however the global recession upset financial projections for the scheme. The most prominent example was the withdrawal of an Icelandic insurance company, which had an option to purchase an entire tower.
One Central Mall covers 400,000 sq. ft and boasts the fourth biggest Louis Vuitton store in the world after Paris, New York and neighbouring Hong Kong.
As well as two floors of LV products including a clothing range, the shop also features an exhibition gallery on a third level. Alongside items explaining the history of LV from its mid-19th century roots in France, is a must-have item for the globe trotting casino patron. LV has created a portable roulette table complete with hand-turned roulette wheel in hardwood, green baize betting surface, chips, card shoe and croupier’s rake. The whole thing packs away when in transit to look like regular luxury LV travel trunk.
Only five of the special trunks have been made–including three for the Macau market and one for the Las Vegas market. The special edition retails at an equally exclusive HKD900,000.
Other shops in One Central Mall include Hermès, Gucci, Fendi,Ermenegildo Zegna, Dolce & Gabbana, Dior, Cartier, Bvlgari and Burberry and the management say there are more luxury names to come.
