Cape Verde government takes possession of Macau Legend hotel-casino project
The takeover concludes a years-long reversion process following repeated contractual breaches by the project’s concessionaires.
Cape Verde.- The Government of Cape Verde has formally taken possession of all assets and structures tied to the long-delayed Macau Legend hotel-casino development in Praia, concluding a protracted reversion process after years of contractual breaches and stalled construction by the Macau-based developer.
The takeover, completed on Friday (January 16) under an administrative order dating from late 2024, transfers control of the unfinished hotel-casino complex, associated infrastructure on the Santa Maria Islet and Gamboa waterfront, and all related movable and immovable property back to the state. According to Cape Verde’s Ministry of Finance, the assets were reclaimed “in their current condition and free of any liens, charges, or liabilities.”
Originally launched under a 2014 memorandum of understanding between Cape Verde and subsidiaries of Macau Legend Development, the project envisioned a US$290m tourism and real-estate destination featuring luxury hotels, a casino, conference facilities, and a marina on Santiago Island’s capital waterfront. Construction began in 2016 but stalled long before the first phase’s scheduled completion in 2021.
Government officials reiterated that every effort was made to facilitate implementation, but persistent breaches of legal and contractual obligations by the concessionaires prompted the termination of all agreements and the reversion of the assets. Cape Verde’s Directorate-General of State Assets and Public Procurement has now assumed full control of the site.
Cape Verde authorities have signalled a commitment to uphold the public interest and the rule of law, while remaining open to future investment opportunities that align with the country’s tourism and economic goals.
