Unlucky For Some
Property Report|June - July 2018

The saga of The 13, Macau’s bid to rival Dubai in the opulence stakes, suggests that super high-end luxury may not have much of a future in the territory

Feliz Solomon
Unlucky For Some

 

A few blocks southwest of Macau’s bustling Cotai casino strip stands a stagnant monument to a magnificent, imagined past. The 13, the more than USD1.4 billion brainchild of flamboyant Hong Kong billionaire Stephen Hung, remains closed six years since inception as it waits for a ruling on its future. Inevitable measures to salvage it could serve as a bellwether at the crossroads of consumer demand and evolving policy in this freewheeling special administrative region of China known as the “Monte Carlo of the Orient.”

Originally branded Louis XIII, evoking the Baroque decadence of 17th-century France, The 13 was always an outlier. Towering 23 storeys over the mostly recreational neighbourhood of Coloane, its creator imagined a high-end luxury resort and casino that would attract the richest of the rich. Known for his polychromatic hair and custom Versace suits, Hung, whose parents reportedly amassed a fortune dealing Hong Kong property, had a vision of opulence that would rival Dubai.

His plan was to lure the world’s most wealthy with a golden gateway, private elevators opening onto USD7 million villas, Roman bathtubs concealed under sliding marble floors, two bars and four dining options including an incarnation of L’Ambroisie—the only French restaurant to continually uphold three Michelin stars since 1988. Upon arrival in Macau, guests would be received by a diamond-encrusted Rolls Royce Phantom, part of Hung’s USD20 million fleet of 30 vehicles that made up the largest custom order the luxury carmaker has ever received.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM PROPERTY REPORTView all
Singapore Starts To Swings
Property Report

Singapore Starts To Swings

Generous stimulus has saved the Lion City’s economy from disaster, and a percolating post-pandemic boom looks set to send the residential sector into overdrive

time-read
8 mins  |
August - September 2021
Natural Highs
Property Report

Natural Highs

With people seeking safe ways of re-engaging with the outside world, the pandemic has steered investment in key ski markets back on-piste

time-read
5 mins  |
August - September 2021
It's In Hua Hin
Property Report

It's In Hua Hin

A long-time favorite of Thai royalty and weekenders travelling from Bangkok, the famous beach town is adding some alluring new strings to its bow

time-read
3 mins  |
August - September 2021
Blues In The Blood
Property Report

Blues In The Blood

As China’s cities explode, its built heritage is often neglected. Hangzhou-based Bluetown Architects aims to redress that balance through its striking but functional work

time-read
6 mins  |
August - September 2021
Little Joy Soldiers
Property Report

Little Joy Soldiers

Real estate sales offices are reopening in Yangon, but banking problems, low confidence and oversupply mean a bleak outlook as the army seeks to entrench rule

time-read
4 mins  |
August - September 2021
Youth Movement
Property Report

Youth Movement

Young members of a storied family shift property development in Cebu forward with a smart, green commercial tower, rising tall above an heirloom estate

time-read
7 mins  |
August - September 2021
Gift From Above
Property Report

Gift From Above

Source Global is tapping into a renewable source— the sky—to supply drinking water to residential communities and commercial properties in Asia

time-read
6 mins  |
August - September 2021
Proptech Is Enhancing Efficiency And Human Experience
Property Report

Proptech Is Enhancing Efficiency And Human Experience

The pandemic has forced the real estate industry into a more meaningful embrace with technology after years of flirting with innovation

time-read
8 mins  |
August - September 2021
Legacy Of Handy, Individualistic Inventions
Property Report

Legacy Of Handy, Individualistic Inventions

The global crisis has caused unprecedented pain, but its extraordinary nature has seen it spawn a legacy of handy, individualistic inventions

time-read
1 min  |
August - September 2021
Wave Of Mutilation
Property Report

Wave Of Mutilation

Lockdown disruption, evolving working conditions and an exodus by offshore gaming operators have sent the vital office space sector in the Philippines into freefall

time-read
7 mins  |
August - September 2021