Some ten local food stores at the real estate property Trust Legend opened last week, forming a food street on the ground floor. The opening ceremony was attended by the Secretary for Social Affairs and Culture, Alexis Tam.
According to Hugo Chiang, business director of Trust Legend, one of the intentions behind the development of the food street was to facilitate the growth of local SMEs by offering lower rent to these entrepreneurs, compared to market prices.
“It is just at the starting stage. Hopefully, we can provide [the shops with] some help at the beginning, to let some young shops grow,” said Chiang, who headed the project.
“I can’t give you the exact amount of their rent, but it is about half or one-third of the market’s rent,” Chiang explained.
He also implied that the leasing period is still variable as it is just the beginning of the project and the developer still needs to promote the food street.
“Before we had this idea, [we] already received offers, mainly catering-related offers. Later, when Macau gained the title of a city of gastronomy, we became even more insistent that we should continue it like this,” Chiang continued.
The head of food establishments believes that the centralized operation of restaurants may not necessarily lead to vicious competition.
Chiang expressed his hopes of expanding the business to tourists without losing the local market.
“Later on, the government will build Mong Ha public houses and Mong Ha sports complex, […] which will bring new synergy to the food street,” the department head added. LV