Asia Beauty Group deal for ‘beauty park’
A consortium comprising a Macau firm and two Mainland Chinese companies has signed an agreement with Hong Kong’s Asia Beauty Group Holding to open a “beauty park” in Grand MixC, an urban complex being developed in Hengqin.
Macau’s San Fong Wang Property Development & Investment is also funding the construction of the RMB50 billion (US$7.52 billion) mixed-use complex. The two other parties are real-estate developer China Resources Land and financial services group China Resources Trust, according to information released by the Zhuhai government.
Aimed at providing “one-stop fashion and leading cosmetic services” for women, the 20,000sqm park will include hairdressers, beauty salons, spas, catering, wedding services, photography resources, a themed hotel and a media centre within 10 theme areas. Hengqin is an island and special economic zone in Zhuhai, in Guangdong province.
Previously owned by Ng Lap Seng, a Macau real-estate tycoon convicted on July 30 of bribery, money laundering and corruption, San Fong Wa is now headed by his son Ng Kei Nin.
Completion of the beauty park is expected next year, when the first phase of the Grand MixC project is also expected to be completed. The complex is expected to become a retail and cultural destination, targeting the boutique trade and exhibitions, healthcare, cultural and creative activities as well as the hi-tech industry.