Real estate fund manager Sniper Capital has sold Senado Square, a 70,000-square-foot retail development project in Macau, China, for $102 million.
Sniper Capital’s London-listed Macau Property Opportunities Fund sold the site, located within the prime UNESCO-listed heritage district of downtown Macau, to a local developer.
The fund’s remaining properties all command prime positions, including its flagship residential asset The Waterside, a premium luxury en-bloc tower located in Macau’s preeminent development, One Central Residences.
“We remain confident in the appeal these properties hold to investors seeking value opportunities in one of Asia’s most compelling and attractively positioned property markets,” said Tom Ashworth, Sniper Capital principal. Sniper Capital principal Martin Tacon added, “We were an early entrant into Macau and have been investing and developing in this market since 2004 when the international casino operators first opened their doors. Our first-mover advantage and local presence have enabled us to secure some of the best property assets in Macau and deliver tremendous value for our investors.”
Today, the Sniper Capital Group manages and advises on real estate assets worth more than $600 million across Asia, the United Kingdom and Southern Europe.
