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Stanley Ho’s Shun Tak Buys Land on Island Next to Macau

Shun Tak Holdings Ltd., the company founded by gambling billionaire Stanley Ho, is planning to build a hotel-to-office complex on an island next to Macau. Share rose by most in eight months.

The Hong Kong-based company won a bid for a site in Hengqin for 721 million yuan ($118 million), according to a statement to the Hong Kong stock exchange. The site will be developed into an office, hotel, service apartment and commercial project, according to the statement.