Latest news with #LawrenceHo
South China Morning Post
25-05-2025
- Business
- South China Morning Post
Capital from Hong Kong, mainland China sets sights on Dubai, Abu Dhabi property
The property market in the Middle East , particularly in the United Arab Emirates (UAE) cities of Dubai and Abu Dhabi, is attracting more interest and capital from Hong Kong and mainland China. Hong Kong-based Gaw Capital spent more than US$150 million on a residential building in Abu Dhabi, the capital, two weeks ago. And last week Black Spade Capital, the family office of casino billionaire Lawrence Ho Yau-lung, invested in IFCX , a Hong Kong-based real estate brokerage focused on real estate in markets including the Middle East. Meanwhile, Chinese buyer inquiries for UAE properties rose by 28 per cent in the first quarter from a year ago, according to data from property technology firm Juwai IQI. Foreign investors bought more than US$2 billion of real estate in Abu Dhabi in 2024 – a 125 per cent increase from a year earlier, the data showed. China was among the top sources of capital, along with the US, UK, France, Kazakhstan and Russia, the firm said. Gaw Capital's residential investment in Abu Dhabi was for a building at Mamsha Gardens, a low-density project with seven residential buildings on Saadiyat Island. It acquired the building from Aldar, the largest developer in Abu Dhabi, which reported that 87 per cent of its sales in the first quarter came from international buyers, said Kashif Ansari, Juwai IQI co-founder and group CEO.
Forbes
22-05-2025
- Business
- Forbes
Casino Magnate Lawrence Ho Invests In Hong Kong Real Estate Broker IFCX
Lawrence Ho, chairman and CEO of Melco International Development. Black Spade Capital, the Hong Kong-based family office of casino magnate Lawrence Ho, has made an undisclosed investment in real estate brokerage firm IFCX. Hong Kong-headquartered IFCX, founded in 2014 by ex-Morgan Stanley banker Kingston Lai, helps institutional investors invest in alternative assets such as properties, fine wines, art and other collectibles. The firm also helps property developers in Cambodia, Malaysia, the Middle East, Thailand, the U.K. and Vietnam to market and sell their projects, while providing property management services to buyers. In a statement on Tuesday, IFCX said Black Spade Capital's investment allows the firm to tap into a wider network of high-net-worth individuals, as well as the hospitality and entertainment sectors in Asia. IFCX added that it will expand its offerings to include predictive market analytics and artificial intelligence-powered tools for investor engagement. 'With Black Spade's backing, we're not only expanding our footprint,' said Lai, IFCX's CEO. 'We're redefining how real estate is traded on a global scale, bridging institutional pathways and empowering individual investors.' Ho's investment in IFCX marks his latest bet outside of his core casino business in Macau. Last August, the chairman and CEO of casino giant Melco International Development listed a special purpose acquisition company on Nasdaq after raising $150 million to target a merger with an AI company. It followed the New York Stock Exchange listing of another SPAC, which in 2023 completed a $23 billion business combination with VinFast Auto, Vietnam's electric-vehicle manufacturer controlled by the country's wealthiest person Pham Nhat Vuong. The son of late casino legend Stanley Ho, the younger Ho has also been expanding his gambling empire beyond Macau following Beijing's years-long crackdown on capital outflow through gambling in the Asian gaming hub. In January, Ho announced plans to pursue a license to operate an integrated resort in Thailand once casinos are legalized in the country, a move he described as a 'generational opportunity.' Meanwhile, Melco plans to open a casino in Sri Lanka later this year, adding to its existing portfolio that includes hospitality and gaming complexes in Macau, the Philippines and Cyprus.
South China Morning Post
21-05-2025
- Business
- South China Morning Post
Casino tycoon Lawrence Ho's family office invests in Hong Kong real estate broker IFCX
Black Spade Capital, the family office of Macau casino billionaire Lawrence Ho Yau-lung , has invested in IFCX, a Hong Kong-based real estate brokerage group that aims to pool at least US$5 billion of capital from Asian clients for investments in emerging markets. IFCX operates Asian Bankers Club, a direct investor sales company, Knightsbridge Partners, an agent for developers, and Easy Pro, a letting and property-management agency that also provides global residency solutions. 'This partnership is great for us,' Dennis Tam, Black Spade president and CEO, said on Tuesday. 'Investment in real estate in emerging markets makes sense', he added, noting the venture's focus on the Middle East, Vietnam and Thailand Ho is the chairman of Melco Resorts & Entertainment, one of the six casino concessionaires in Macau, as well as the son of the late gaming mogul Stanley Ho Hung-sun. He has an estimated net worth of US$1.2 billion, according to Forbes. Black Spade earlier invested in Vietnamese electric vehicle maker VinFast Auto Lawrence Ho Yau-lung has a net worth of US$1.2 billion, according to Forbes. Photo: AFP The partnership would allow IFCX to tap into the family office ecosystem, according to Kingston Lai, its founder and CEO. There would also be plans to improve the utilisation of artificial intelligence (AI) to build intelligent platforms for digital transactions, predictive market analytics and investor engagement tools, he added.
Associated Press
29-04-2025
- Business
- Associated Press
Melco publishes Company's annual sustainability report 'RISE to go Above & Beyond'
MACAU, April 29, 2025 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has announced the publication of its sustainability report for the year 2024 ( link ). The strategy continues to guide the Company to go 'Above & Beyond' -- to strive to achieve its commitments to restoring the environment, inspiring its people and communities, sustaining its supply chain and empowering its business to impact positive change. As Melco's strategy, pillar goals and targets evolve in response to shifting environments through wide-reaching efforts as highlighted in the report, the Company aims to actively engage stakeholders on its journey towards a climate-fit and equitable future. Mr. Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, said, 'Much more than a service, hospitality is about the experience it creates, the people it supports and the impact it leaves behind. Each year, Melco challenges itself to push this further, believing that luxury and responsibility are not opposing forces but partners in progress, which is reflected in how we uphold strong governance, manage our environmental impact, support our people and communities and lead in responsible gaming. This commitment to progress shaped our approach in 2024, as a year of recalibration in which we continued to strengthen operations, reignite momentum and ensure our integrated resorts remain at the forefront of excellence.' Key performance highlights from Melco's latest 'RISE to go Above & Beyond' sustainability strategy. Awards/Recognition Engaging our People Community Engagement & Investment Energy & Climate Resilience Material Use & Waste Sustaining our Supply Chain Empowering our Business Melco remains steadfast in its commitment to sustainability and invites stakeholders, partners, and communities to join in its journey towards a climate-fit and equitable future. About Melco Resorts & Entertainment Limited Melco Resorts & Entertainment, with its American depositary shares listed on the NASDAQ Global Select Market (NASDAQ: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau ( ), an integrated resort located at Taipa, Macau and City of Dreams ( ), an integrated resort located in Cotai, Macau. Its business also includes the Mocha Clubs ( ), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City ( ), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila ( ), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean in Limassol in the Republic of Cyprus ( ). The Company also continues to operate three satellite casinos in other cities in Cyprus (the 'Cyprus Casinos'). For more information about the Company, please visit Melco Resorts & Entertainment is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company. For media enquiries, please contact: Chimmy Leung Executive Director, Corporate Communications Tel: +852 3151 3765 Email: [email protected]
South China Morning Post
29-03-2025
- Business
- South China Morning Post
From casino city to cultural centre: how Macau is betting on art
Change is afoot in our sister SAR. Last December, outgoing chief executive Ho Iat-seng said Macau was 'shifting away from a gaming dominated economy', while neglecting to mention that his administration derived 80.5 per cent of its revenue from casino taxes. Earlier this month, Lawrence Ho, chairman and CEO of Melco, one of Macau's six casino operators, suggested that the city was ' no longer just a 'gambling hub' '. Advertisement But if Macau is no longer a place where baccarat is king and sic bo dice tumble endlessly across the baize, then what is it? It's now 'Cultural Macau', or so policymakers would have you believe. They may have a point. The impressive new Poly MGM Museum exemplifies what the city is capable of, but beyond such grand openings, Macau's calendar of visual arts events has embraced everything from contemporary art from the Portuguese-speaking world, to festivals of graffiti and open-call salons. To support the idea of 'Cultural Macau', casino operators – or 'concessionaires' as they're euphemistically called – have endowed generous art prizes and routinely strew the city with pop art installations that are either vibrant or hideous, depending on your point of view. But they are well intentioned. Strides have been made in the performing arts, too. In 2023, Macau presented more than 2,000 concerts. Big productions at the casinos drew an audience of a million people and generated MOP1.1 billion (HK$1.06 billion) in ticket sales. Macau's recent designation as a Culture City of East Asia for 2025 is the icing sugar on the pastel de nata of the city's cultural aspirations. It isn't the grandest accolade – and Macau is sharing the honour with three other municipalities – but this is the first time a Chinese city outside the mainland has been given the designation. Through it, tiny Macau is putting the world on notice that it intends to punch above its cultural weight. After all, even a city built on chance can gamble on good taste. Advertisement Here are some don't-miss art events coming up on the other side of the delta. New Perspectives: Modern and Contemporary Works from the Macao Museum of Art (until May 25)
