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The government has awarded a plot of land in Taipa to the sole bidder

The first government land auction since 2008 was underwhelming, with two plots of land attracting just a single bid.

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The first government land auction since 2008 was underwhelming, with two plots of land attracting just a single bid.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 21 Dec 2023, 11:09 pm

The sole bidder of a plot of land in central Taipa has been granted a land concession by the government.

The successful bidder is a joint venture between Top Builders International Company Limited and Ascent Investment Company Limited, and offered 893.6 million patacas for the 3,225-square-metre plot, according to a report in Macau Post Daily.

The developer will build some 200 mid-market flats on the site, which is located between the Nam San Garden residential estate and the Nova Taipa Garden residential estate. Speaking to media yesterday, Tang Hon Cheong, the general manager of Top Builders International, expressed surprise that his venture had been the only bidder.

[See more: A government auction of two plots of land attracted just one bid]

He said he expected the apartments would be completed in four years.

Meanwhile, an adjacent 3,509-square-metre site attracted no bidders in what was the first land auction since 2008. Mak Tat Io, the deputy director of the Lands and Urban Construction Bureau, told media that he “did not expect” the lack of interest in the site.

Lai added that the government did not have further plans for auctioning other undeveloped plots in the city, Macau Post Daily reported.

 

UPDATED: 21 Dec 2023, 11:09 pm

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