The government has approved The joint-venture "Macau Fishermen's Wharf" project, said Ao Man Long, Secretary for Transports and Public Works before his visit to the United States.

Ao Man Long stateded that the government had approved the project, considering the contribution of the project to the tourism, economics and society of the SAR, the premium of which is about 43 million patacas.

The Secretary indicated that the government expected the project would benefit the tourism and economics of the SAR as well as the job market in early future.

Located at the coast of the newly reclaimed zone at the Exterior Port, Macau Fishermen's Wharf will be devided into 3 parts - the "Dynasty Wharf", "East meet West" and "Legend Wharf". The total area of the project is 1.5 million sq.ft, including 0.6 million ft2 land reclaimation area. The investment for the whole project will be 800 million patacas.

One of the developers, David Chow disclosed earlier that the construction was projected to start at 20th December, the first anniversary of Macau's Handover, and expecting to be completed in 2 years.

"Macau Fishermen's Wharf" project was originated by David Chow, CEO of Macau Landmark, in early 2000. Stanley Ho of STDM then submitted another Fishermen's Wharf project to the SAR government in May. The two merchants later agreed to form a joint-venture company named Macau Fishermen's Wharf International Investing Company Limited, in which Stanley Ho holds 51% and David Chow has the rest 49%.