Stanley Ho SJM Holdings Ltd. announced on Friday that it expects Lisboa Palace’s construction to be completed in the fourth quarter of 2017.

SJM Holdings has mentioned the date of completion during its filing, which the company also announced that it is spending about MOP557 million (HK$541 million, US$71.4 million) on a new construction contract with one of its existing contractors Macau-incorporated Iao Lek Engineering Company Ltd.

Iao lek would undertake certain basement excavation, reinforced concrete structure and general builder’s work for the Lisboa Palace project.

Macau casino operator SJM Holdings broke ground on its first property on Cotai in February. The Versailles-themed Lisboa Palace has an estimated cost of approximately $3.9b.

The Lisboa Palace complex will have three hotels—Karl Lagerfeld’s first hotel in Macau as well as the Lisboa Palace Hotel and the Palazzo Versace Macau—with a total of 2,000 hotel rooms, a number of Michelin-starred restaurants, a themed retail mall, a wedding pavilion and a multi-purpose theater for large-scale events. The resort will also provide up to 700 gaming tables and over 1,200 slot machines, which are subject to “obtaining of applicable licenses.”

Construction of the Lisboa Palace remains on schedule but market rivals such the $4 billion construction Wynn Palace announced that the project will most likely not make its planned opening for the Chinese New Year 2016, same with MGM Cotai, which also modify its opening date to fall of 2016 rather than rather than “early 2016” as stated previously.

Meanwhile, Galaxy Entertainment Group Ltd. also made an announcement on Friday, during its filing, that one the company’s independent non-executive director James Ross Ancell will not face further action after an investigation held by the UK Environment Agency.