(Demo) Destination Macau — 2010
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One with everything
The new Four Seasons Private Apartments offer all the expected trappings of a luxury residential development – but with a novel touch of ‘New York co-op’ style versatility
If you have to ask the price, you probably aren’t qualified to view one of the Four Seasons Private Apartments, a sanctuary for high-flyers within the Cotai Strip. At least that’s according to Stephen Weaver, Chief Development Officer of Sands China, Ltd., who developed the luxury property together with Four Seasons Macao.
Weaver says his company is narrowly targeting a short list of prospective buyers among “wealthy Asians who want a lifestyle residence”. But who – and more importantly what – exactly is that? The target buyer is probably easier to define; after all, the Venetian, Plaza and Sands Macao properties between them probably have a customer list of Asia’s richest people, who have already stayed and played at the company’s resorts in Macau. But a lifestyle residence is more of an intangible asset to describe.
“We’re trying to provide a second-home environment,” Weaver explains, adding that what makes these second homes unique is that they are slap in the middle of Asia’s premier playground, with all the services and amenitiesOf the Four Seasons Hotel at their disposal, including round the clock room service, personal butlers, and even the use of a private jet.
The chic decoration and top-quality furnishings certainly add up to an attractive living space, with all the comforts of home, plus a few things you might not have at home. Fancy a spa in your building? Well, try the 20,000-square foot Four Seasons spa. Want to go shopping?
How about the Shoppes at Four Seasons just downstairs, where every major luxury brand has a boutique.
Feel like watching a concert or a major sports event? A quick call to the concierge will secure you a front-row seat at the nearby Cotai Arena, and get you a table at a restaurant of your choice afterwards. Golf? The Orient Golf (Macau) Club is just across the road.
Indeed, residents will have everything they need at their fingertips. Not everyone will get absolutely everything on offer, of course – a loyalty-card programme will ensure that the biggest spenders get the biggest rewards, including use of a private jet. Yet there is so much moreAvailable here than anyone could normally expect from a residential development, such as private parties for weekend guests catered by Four Seasons staff.
The beauty of the place from an investment point of view, Weaver points out, is that whether all this is needed just for a week, or a month, or several months of the year, the choice is up to the owner. You could buy into the lifestyle and use your apartment for holidays, letting it out when you are not in Macau, or you could live in it full time.
“This is not just buying real estate, but like joining an exclusive club. You could buy one and put it into the letting pool, generating income when you are not here,” he says.
Or you could consider all options simultaneously.
Each unit has a secure storage area where owners can store their belongings. “You can call up and say ‘I’m coming’ and the staff will open the storeroom and have your things in place when you arrive,” Weaver says. If an owner decides to let the premises out and earn income that way, Four Seasons manages the occupancy. “It’s all managed by the hotel, which also keeps a fund to cover the replacement of furniture when it wears out,” Weaver says.
In short, the residences enjoy “All the benefits of the Four Seasons brand,” Weaver continues. “We have kitchens, although I’m not sure anyone will ever use them when there is room service, and food and beverage service here and at the pool.” Everything, in short, for “large scale holiday living.” Weaver is keen to point out that the way the investment structure of the apartments has been set up is ideal for prospective buyers. It is similar to the concept of a condominium-hotel, where each apartment comes with full hotel amenities. “Like a New York co-op,” Weaver explains, “you’re also buying into the corporation.” That corporation, a holding company will be “a new entity, part of the Cotai development, whose only asset is the hotel,” he adds. Anyone familiar with lifestyle of the rich and famous of New York will know that co-ops have another thing going for them – exclusivity.
“Our commitment to the government is to broaden Macau’s appeal as a leisure destination,” Weaver says.
“We’ve got enough broad-base tourism infrastructure here now.” With the Four Seasons Private Apartments, he says, “We’re reaching out to people we already know, customers of the resort, regular visitors and high-level customers.” Residents, short or long term, will enjoy the Cotai Strip lifestyle, in “a secluded enclave that only a relative few can have access to,” according to Weaver, who admits, “While gaming is not the whole story, if I weren’t interested in gaming, I probably wouldn’t buy here in Macau.” But if you’re looking for luxury surroundings, shopping for the top name brands in the world, nearby excellent restaurants and world-class entertainment practically on your doorstep, this is the way to go.
The new Four Seasons Private Apartments offer all the expected trappings of a luxury residential development – but with a novel touch of ‘New York co-op’ style versatility
If you have to ask the price, you probably aren’t qualified to view one of the Four Seasons Private Apartments, a sanctuary for high-flyers within the Cotai Strip. At least that’s according to Stephen Weaver, Chief Development Officer of Sands China, Ltd., who developed the luxury property together with Four Seasons Macao.
Weaver says his company is narrowly targeting a short list of prospective buyers among “wealthy Asians who want a lifestyle residence”. But who – and more importantly what – exactly is that? The target buyer is probably easier to define; after all, the Venetian, Plaza and Sands Macao properties between them probably have a customer list of Asia’s richest people, who have already stayed and played at the company’s resorts in Macau. But a lifestyle residence is more of an intangible asset to describe.
“We’re trying to provide a second-home environment,” Weaver explains, adding that what makes these second homes unique is that they are slap in the middle of Asia’s premier playground, with all the services and amenitiesOf the Four Seasons Hotel at their disposal, including round the clock room service, personal butlers, and even the use of a private jet.
The chic decoration and top-quality furnishings certainly add up to an attractive living space, with all the comforts of home, plus a few things you might not have at home. Fancy a spa in your building? Well, try the 20,000-square foot Four Seasons spa. Want to go shopping?
How about the Shoppes at Four Seasons just downstairs, where every major luxury brand has a boutique.
Feel like watching a concert or a major sports event? A quick call to the concierge will secure you a front-row seat at the nearby Cotai Arena, and get you a table at a restaurant of your choice afterwards. Golf? The Orient Golf (Macau) Club is just across the road.
Indeed, residents will have everything they need at their fingertips. Not everyone will get absolutely everything on offer, of course – a loyalty-card programme will ensure that the biggest spenders get the biggest rewards, including use of a private jet. Yet there is so much moreAvailable here than anyone could normally expect from a residential development, such as private parties for weekend guests catered by Four Seasons staff.
The beauty of the place from an investment point of view, Weaver points out, is that whether all this is needed just for a week, or a month, or several months of the year, the choice is up to the owner. You could buy into the lifestyle and use your apartment for holidays, letting it out when you are not in Macau, or you could live in it full time.
“This is not just buying real estate, but like joining an exclusive club. You could buy one and put it into the letting pool, generating income when you are not here,” he says.
Or you could consider all options simultaneously.
Each unit has a secure storage area where owners can store their belongings. “You can call up and say ‘I’m coming’ and the staff will open the storeroom and have your things in place when you arrive,” Weaver says. If an owner decides to let the premises out and earn income that way, Four Seasons manages the occupancy. “It’s all managed by the hotel, which also keeps a fund to cover the replacement of furniture when it wears out,” Weaver says.
In short, the residences enjoy “All the benefits of the Four Seasons brand,” Weaver continues. “We have kitchens, although I’m not sure anyone will ever use them when there is room service, and food and beverage service here and at the pool.” Everything, in short, for “large scale holiday living.” Weaver is keen to point out that the way the investment structure of the apartments has been set up is ideal for prospective buyers. It is similar to the concept of a condominium-hotel, where each apartment comes with full hotel amenities. “Like a New York co-op,” Weaver explains, “you’re also buying into the corporation.” That corporation, a holding company will be “a new entity, part of the Cotai development, whose only asset is the hotel,” he adds. Anyone familiar with lifestyle of the rich and famous of New York will know that co-ops have another thing going for them – exclusivity.
“Our commitment to the government is to broaden Macau’s appeal as a leisure destination,” Weaver says.
“We’ve got enough broad-base tourism infrastructure here now.” With the Four Seasons Private Apartments, he says, “We’re reaching out to people we already know, customers of the resort, regular visitors and high-level customers.” Residents, short or long term, will enjoy the Cotai Strip lifestyle, in “a secluded enclave that only a relative few can have access to,” according to Weaver, who admits, “While gaming is not the whole story, if I weren’t interested in gaming, I probably wouldn’t buy here in Macau.” But if you’re looking for luxury surroundings, shopping for the top name brands in the world, nearby excellent restaurants and world-class entertainment practically on your doorstep, this is the way to go.
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