Leading global luxury retail developers Taubman Centres has made a big decision but pulling out of the construction of the Macau Studio City project in Macau. In doing so, Tuabman Centres has recoeverd its 25 percent, US $65 million interest in the planned shopping mall.

Continual conflicts between Taubamn's and the developers Cyber One had caused the relationship to fall apart. Cyber One had previously announced that Taubman was responsible for securing financing for the construction, yet Taubman has announced that Cyber One was the side that failed to secure finance and has the right to pull out their 25% interest.

Cyber One is a joint venture between New Cotai, LLC and East Asia Satelite Television Holdings. These companies are part owned by other companies in Hong Kong and Singapore. Macau Studio City is expected to attract up to 70,000 visitors a day upon completion.

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