Real Estate
Asian Tycoon Breaks Record With Rolls-Royce Car Order For Macau Development
In a move highlighting the stunning riches that continue to draw wealth managers into Asia, media reports said a Hong Kong tycoon, Stephen Hung, has ordered 30 Rolls-Royce Phantom cars to convey guess at a luxury hotel resort being built in Macau.
In a move highlighting the stunning riches that continue to draw wealth managers into Asia, media reports said a Hong Kong tycoon, Stephen Hung, has ordered 30 Rolls-Royce Phantom cars to convey guess at a luxury hotel resort being built in Macau.
The purchase, for HK$150 (around $20 million), is way ahead of the 14 Phantoms bought by the Hong Kong Peninsula Hotel in 2006, media reports said.
Such a deal is a useful barometer of the state of wealth in the region, seen as a rich hunting ground for private banks and other wealth management organisations.
Reports say that Macau, making casino revenues of $45 billion last year, is far ahead of Las Vegas in terms of financial inflows.
