From June next year, a minimum of 80 per cent – instead of the current 100 per cent – of condominium unit owners will be required to agree to the redevelopment of buildings that are older than 40 years.
For buildings that are 30-40 years old, an 85 per cent minimum will be required to seek redevelopment of it, according to the new law passed by the Legislative Assembly (AL).
The new law will also cover other types of buildings such as commercial and industrial ones.
For buildings whose demolition has been ordered by the government after they have been officially classified as dilapidated or posing a danger to public health and safety, only at least 60 per cent of condominium unit ownership will be required to agree to the redevelopment of their building, according to the new law.
In the case when the officially required minimum percentage of condominium unit ownership agreeing to the redevelopment of their building has been achieved, according to the new law, if the condominium unit owners wanting the redevelopment still cannot persuade the remaining condominium unit owners, i.e., those who do not want the redevelopment, to back the project, an arbitration process can be initiated as a way to make it compulsory for the remaining condominium unit owners to participate in the redevelopment of their building.
According to the new law, those who do not accept the arbitrator’s decision, i.e., those who still do not agree with the redevelopment can appeal to the Court of Second Instance against the decision, reported The Macau Post Daily.
