MLD Cabo Verde Resorts and MLD Cabo Verde Entretenimento, subsidiary units under Macau Legend Development (MLD), have signed multiple agreements with the Government of the Republic of Cape Verde to develop an integrated resort and gaming facility complex.
Expanding across a 152,700m² area, the project is expected to require an investment of about €250m (HK$2.15bn).
The integrated leisure, tourism and entertainment project will span 119,200m² of land and 33,500m² of sea area at Praia on Santiago Island.
The African country has allocated 75 years of land concession for the project.
Project agreements also include granting a gaming concession to CV Entertainment for operating of casino games at the location.
The planned development will feature hotels, office buildings, property development, retail, dining, convention centre, museum, function areas, a clubhouse and a marina.
Macau Legend co-chairman, executive director and CEO David Chow said: "There are two very important messages for our investment in Cape Verde.
"Firstly, it is a great opportunity for a Macau enterprise to be able to make use of the Sino-Portuguese platform to expand our business overseas.
"Secondly, this project follows the China Government’s national policy ‘one belt, one road’, a strategy to help position Macau as one of the important cities on the Maritime Silk Road, which shall be vanguard to lead Macau small and medium enterprises to expand from Macau."