STRATEGIC PRUDENCE

The three Linchpins of First Horizon's investment stratgy

Small as Macau is, possibilities abound and, sometimes, can be misleading. First Horizon
recognizes the importance of a sound strategy to realize its vision. There are three strategic focal points devised by the Management Team, on which all investment decisions are based: scarcity, cultural uniqueness, and proximity to future tourist routes.

• Within the peninsula, there are only around 300 tracts of those small-to-medium-sized
  vacant lands available for acquisition. The limited supply implies that any increase in
  demand will create a disproportionate upward momentum on prices; and the ominant
  developer will command vast price-setting powers.
  
• Some properties in Macau possess unique cultural characteristics that are impossible to duplicate such as being situated within a locality where there is a peculiar blend of
  historical, natural, and social elements. These are priceless pieces ideal for cultural living concepts.
  
• First Horizon also focuses on the future trends of tourism in Macau. In particular, the future tourist routes accommodating the increasing popularity of the World Heritage sites. The company has compiled a list of prospects that have a high potential of becoming new shopping and dining areas catering to new tourist demand.
  

Scarcity, cultural uniqueness, and proximity to future tourist routes are the three linchpins of
First Horizon's investment strategy.

戰略審慎
First Horizo​​n 投資策略的三大關鍵

澳門雖小，卻蘊藏著無限可能，有時甚至會造成誤導。 First Horizo​​n 深知制定合理的策略對於實現願景的重要性。管理團隊制定了三個策略重點，所有投資決策均以此為基礎：稀缺性、文化獨特性以及與未來旅遊路線的距離。

在澳門半島，可供收購的中小型空置土地僅約300塊。有限的供應意味著任何需求的成長都將導致價格不成比例的上漲勢頭；而主導開發商將擁有巨大的定價權。

澳門的一些物業擁有獨特的文化特色，是無法複製的——例如，它們位於一個歷史、自然和社會元素交融的地區。這些寶貴的地塊是「文化生活」理念的理想選擇。

First Horizo​​n 也關注澳門旅遊業的未來趨勢，尤其是與日益增長的世界遺產地熱度相適應的未來旅遊路線。該公司已編制了一份清單，其中列出了一些極具潛力成為滿足新遊客需求的全新購物和餐飲區的項目。

稀缺性、文化獨特性以及靠近未來旅遊路線是 First Horizo​​n 投資策略的三大關鍵。