SJM Resorts, a leading name in Macau’s hospitality sector, has announced an exciting redevelopment project for the Kam Pek Community Centre. The new venue, named Kam Pek Market, will transform the existing center into a dynamic dining landmark, featuring a variety of food outlets and retail options. This significant project is expected to invigorate the local dining scene and attract a diverse clientele, including tourists and residents.
Project Scope and Design
The redevelopment plan for Kam Pek Market involves a comprehensive overhaul of the existing Kam Pek Community Centre. The new market will cover a total area of 12,939 square feet, with the ground floor measuring 7,126 square feet and the first floor 5,813 square feet.
The design will retain the building’s historical façade while incorporating Art Deco elements to create a stylish and modern atmosphere. The aim is to appeal to a younger demographic and position Kam Pek Market as a fashionable and trendy destination in Macau.
Food Outlets and Bidding Process
In the first phase of the project, 10 food outlets on the ground floor will be available for bidding by local merchants. These outlets are slated to open by mid-December 2024. The first floor, which will also host additional food outlets, is expected to commence operations before the Lunar New Year 2025.
Retail and Dried Food Outlets
The second floor will be dedicated to dried food and retail outlets. Specific details regarding these outlets will be announced at a later date. This phase is designed to complement the food offerings on the lower floors and enhance the overall market experience.
Financial Structure for Food Outlets
Successful bidders for the food outlets at Kam Pek Market will encounter a distinctive fee structure. Monthly charges will include:
Rent and Promotional Fee: 10% of the outlet’s turnover.
Management and Cleaning Fee: An additional 10% of turnover.
This approach reflects SJM’s strategy to balance operational costs with performance incentives, ensuring a thriving marketplace.
Strategic Significance for SJM Resorts
Daisy Ho, Managing Director of SJM Resorts, highlighted the importance of Kam Pek Market in the company’s broader strategy to revitalize older districts in Macau. The project is seen as a way to inject new life into the community and leverage SJM’s competitive strengths to drive local development.
Acquisition and Investment Details
SJM Holdings acquired Kam Pek Community Centre on May 21, 2024, for HK$166 million (US$21.3 million). This investment underscores SJM’s commitment to enhancing Macau’s urban landscape and supporting community growth through strategic infrastructure projects.
Kam Pek Market represents a significant step forward in Macau’s evolution as a vibrant urban center. With its innovative design, diverse food offerings, and strategic location, the new market is set to become a central hub for dining and retail in the region. SJM Resorts’ investment reflects a dedication to revitalizing the city’s community spaces and providing a fresh and appealing destination for both locals and visitors.