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City of Dreams Construction Update - August 2008

Super pimp jcdarosa shared some great pics he took of of City of Dreams last week which show the amazing progress they're making on the construction.

I can't seem to figure out how to extract the hi-res pics from his Webshots account other than doing a labor intensive stitching together of screenshots, so you'll have to hop on over to his gallery for the goods.

Some interesting stuff for sure here. Crown and Hard Rock towers are topped out and the interiors appear to be on the road to being fitted. The structure of both Hyatt towers look to be nearing top out and the curtain wall is half done on the north tower and just starting on the south. Most of the ground floor buildings appear to be well on the road to completion and beginning the fitting process.

Jason also sent in a link to a story which originally appeared in MacauBusiness, which - in he first part of the piece - targets the opening of City of Dreams to be "late 2009." Later on the writer says that the Hyatt towers will be open in September 2009. Huh? So the two towers that are way farther along and the rest of the complex are going to be open after the partially completed Hyatt opens in September? I don't buy this at all. From the latest MPEL earnings call, they're still vaguely targeting 1H2009 for opening of City of Dreams.

That being said, it was at this process during the construction of Crown Towers Taipa where cost overruns reared their ugly heads. The big question is whether or not Melco Crown Entertainment Ltd. learned from the experience and will keep cost and schedule under tight scrutiny. With MPEL stock stagnated in the single digits for the last month or so, it would behoove MPEL to avoid any negative publicity whatsoever, particularly related to ballooning costs or further extension of their already cagey time frame projections.

Thanks J for sharing your great photos with us!

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Comments & Discussion:

Great photos. Climbing up that hill above the sewage pond where the new apartments are going up I see?

I have it on pretty good authority that the COD is to be open march/april 09 with the Crown and Hard Rock towers. The Hyatt will come on line latter. I guess the site will look a lot like the V accross the road, half posh hotel-casino and half job site.

I think the author of that article meant that the entire COD is meant to be completed by late 2009 (with Hyatt included). The official opening for phase 1 (hard rock, casino, crown towers) is "late 2009", though as Draman suggests, I think it will most likely be around March 2009, but they are leaving some room for error.

In terms of costs, 93% are contracted out already, which I'm not sure if they did for Crown Towers Taipa. This being the case, I think there is little chance of cost overruns.

Anyway, I'm glad you enjoyed looking through my photos. I will keep everyone updated whenever I get any new shots.

I'm sorry. Major typo. I meant the official opening for Phase 1 is 1st Half of 2009, not late 2009. Sorry for that mistake.

Btw Chuck, you can see the photo in its original size (hi-res) by clicking on the photo from the album, which will load the photo by itself, and then you can click the magnifying class icon with a ' ' sign, and this will load the full-size photo.

Sorry for the 4th post...I just wanted to add that I've also collected a few "Concept" photos of COD that I thought you might be interested in looking at Chuck. They are in a separate album under the same account.

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