Macau entrepreneur signs Porto hotel agreement

By TPN/Lusa, in News · 14-11-2019 15:20:00 · 0 Comments

Macau businessman Kevin Ho on Wednesday said that he has the former Jornal de Notícias building in Porto.

"A management contract was signed with one of the group's brands, the Marriott Autograph Collection, but the name will be different," the vice-president of the Global Media media group told Lusa, about the new hotel project with over 200 rooms.

"The total amount of investment, including the purchase of the building and the renovation, will be around €30 million," he said. The news was reported on Tuesday by the Macau News Agency portal.

The businessman and owner, along with other partners, said that teams of architects and engineers, all Portuguese, would be hired to carry out the conversion work on the building.

Kevin Ho added that the name of the new hotel would be "Journal Hotel" and was chosen by brand and design teams, alluding to the history of the building.

"It seemed to us to be the best name to represent the building, the history and the city," he underlined.

Regarding the luxury residential condominium, planned for Foz do Douro, Kevin Ho said that different licenses and authorisations are being requested from the Porto city council, without saying the value of the project.

On the project to develop a startups incubator in Vila Nova de Gaia, signed between the municipality and the Macau Chamber of Commerce last year, the businessman said it was still in the initial phase.

The future incubator intends to bring together Portuguese and Guangdong provincial startups, but both sides continue to look for the best approach to the project, which could include perhaps the collaboration of the University of Porto and other institutions, he said.

In 2017, Kevin Ho, through KNJ Investment, acquired 30% of Global Media, owner of Diário de Notícias (DN), Jornal de Notícias (JN), TSF and Dinheiro Vivo, among others, in an investment of €15 million.

Last October, BCP sold the entire 10.5% stake it held in that group, in equal parts to two reference shareholders of Global Media Group, without indicating which ones.

The main shareholders of Global Media Group, besides KNJ, include the entrepreneur José Pedro Soeiro.


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