The prosperous gaming and tourism industry is turning Macao into one of the world's most promising and exciting property markets, the region's economy chief said Tuesday.

Francis Tam Pak Yuen, secretary for Economy and Finance, said while addressing the opening ceremony of an international property conference that the booming gaming business created growing demand for hotels, convention centers, shopping malls, office spaces and residential property in Macao.

Tam said the property market has been traditionally one of the major economic pillars of Macao, contributing significantly to the territory's economic development.

He said another source of great potential and opportunity for the real estate industry lies in Macao's geographical location.

The region was located on China's economy-active southeast coast, making Macao a perfect platform for real estate projects and investments across sectors and regional borders.

"Macao is not only a growing property market on her own, but also a strategic platform for developing real estate business in the whole South China region," said Tam.

The two-day real estate conference teamed up some 500 professionals in the world to discuss the future of the regional and global real estate industry.

Source: Xinhua