Chinese millionaire invests in luxury tourism

Ming Hsu, a Chinese millionaire, will build a luxury tourist development with 19 villas next to Praia de Santa Bárbara, in Ribeira Grande, in São Miguel (Azores). 

According to Açoriano Oriental, Ming Hsu stands out for being a philanthropist, having donated 4.6 million euros in medical equipment to Portugal, during the pandemic. According to the publication, the millionaire was born in Taiwan and has already invested many millions in the area of luxury real estate, with a large part of their business in Hong Kong.

The hotel unit will be built over a plot of land measuring around 100 thousand square meters (m2), and it appears that the licensing process has been advanced at the Ribeira Grande City Council.

The development, with 140 beds, swimming pool, spa and restaurants, is expected to open its doors in 2026.

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