Following the launch of a revitalization initiative in 2024 to subsidize businesses opening on Rua das Estalagens, Sands China announced on Wednesday that it will again roll out the Rua das Estalagens District Revitalization Programme this year, continuing to provide funding support for selected companies to establish shops in the street.
Since 2023, the Macao SAR Government has been advancing district-based revitalization, with all six gaming concessionaires participating. Sands China is responsible for promoting the revitalization of the Rua das Estalagens area. In response, Sands China took the lead in 2024 by introducing the innovative “Entrepreneurship Recruitment Programme for Rua das Estalagens,” offering direct financial support to attract businesses to the street and help stimulate local commerce and foot traffic.
The company is now launching a new round of the initiative, titled “Entrepreneurship Recruitment Programme for Rua das Estalagens 2.0,” encouraging Macau entrepreneurs to submit business proposals aligned with the positioning and goals of the Rua das Estalagens revitalization.
Under the latest program requirements, applicants must invest no less than MOP$300,000 (US$37,165) of their own start-up capital and, if selected, provide relevant bank documentation as proof. Preferred proposals will be eligible for subsidies from Sands China equivalent to one to two times the applicant’s self-invested capital, with a maximum subsidy of MOP$1 million (US$123,890).
Looking back at the first program in 2024, Sands China said it received 128 applications and ultimately selected seven businesses to open on Rua das Estalagens, spanning sectors such as cultural and creative retail and specialty food and beverage.
In addition, Sands China announced it will introduce a new “Rua das Estalagens Shop Rebranding Programme” this year, open to existing merchants on the street. Under this scheme, applicants must invest at least MOP$50,000 (US$6,195) of their own capital. Selected businesses may receive subsidies equivalent to one to three times their self-invested amount, capped at MOP$500,000 (US$61,945).
The old-district revitalization initiatives were first introduced in 2022 under Macau’s new gaming concession contracts. As per the contracts, the six concessionaires were initially required to invest a combined MOP$108.8 billion (US$13.5 billion) in non-gaming elements over a 10-year period. However, as Macau’s gross gaming revenue exceeded MOP$180 billion (US$22.3 billion) in 2023, the required non-gaming investment increased by 20% to approximately MOP$130.4 billion (US$16.2 billion).
After the new administration took office, adjustments were made to the program framework. A “District Development Centre” was established, with responsibility for planning and implementing old-district revitalization initiatives shifting from the gaming concessionaires to the center. The concessionaires’ roles now focus primarily on providing resources and funding.
