MOP 8 billion housing project breaks ground
Lengthy and convoluted negotiations come to an end as work – due to be completed by December 2024 – gets going in earnest in Areia Preta district
Contractors have broken ground on all the “home swap” housing towers and temporary housing towers on Plot P in Areia Preta district.
Macau Urban Renewal (MUR), a government-owned company, granted the contracts for the six remaining temporary housing towers to two construction joint venture companies. The cost is expected to be around MOP 3 billion.
The contract for six “home swap” housing towers, and the contract for two temporary housing towers, has already been granted to a construction company and a construction joint venture respectively about a month ago. Their construction is expected to cost about MOP 4.9 billion.
Plot P is the site of the ill-fated Pearl Horizon residential project whose land concession was annulled in early 2016.
Last March, the government granted MUR the land concession of a 47,682-square-metre area on Plot P for the development of its “home swap” and temporary housing projects.
The government last year earmarked an area of 6,828 square metres, which is located at the southern tip of the 68,000-square-metre Plot P, for a high-rise rental housing project for senior citizens. The project, which is being carried out by China Construction Engineering (Macau), got off the ground late last year.
According to an executive order by Secretary for Transport and Public Works Raimundo do Rosário, the 47,682-square-metre concession granted to MUR comprises three areas, namely Area A (21,888 square metres), Area B (6,537 square metres) and Area C (19,257 square metres).
According to the order, a “home swap” housing estate comprising six towers will be built in Area A, which will also include commercial facilities, a car park and swimming pools.
Area B will have a temporary housing estate comprising two towers, commercial facilities and a car park, while Area C will contain two temporary housing estates comprising six towers, commercial facilities, a car park and a public bus terminal.
MUR plans to build six towers of a “home swap” housing estate in Area A, providing 2,000 flats, which will be earmarked for sale to eligible Pearl Horizon pre-sale buyers. Eight temporary housing towers will be built in Areas B and C, providing 2,800 units, which are earmarked for residents affected by urban renewal projects to rent during the redevelopment of their old homes.
Last month, MUR granted China Construction Engineering (Macau) a MOP 4.068-billion contract for the construction of the “home swap” housing project in Area A of Plot P. The urban renewal company had granted a joint venture a MOP 878.6-million contract for the construction of the temporary housing project in Area B of Plot P. The joint venture is made up of Coneer Engineering, China Road and Bridge Corporation, and Top Design Consultants.
MUR has granted a consortium of MOP 1.9 billion contract for tender C1, namely two 41-storey towers and two 50-storey towers – including podium levels. The consortium’s two companies are Ming Shun Construction and Property Investment, and Tat Cheong Engineering & Construction.
The urban renewal company has granted a joint venture a MOP 1.1 billion construction contract for tender C2, namely two 50-storey towers – including podium levels. The joint venture comprises Cheong Kong Construction Company, and J&T Construction.
MUR reaffirmed that the whole Plot P project is expected to be completed by the end of 2024.