Plot P housing project’s price tag: MOP 4 billion
Saga has dragged on for years as urban renewal company seeks to find a solution to knotty accommodation problems.
The long-running and highly complicated Plot P housing project saga has experienced further developments – but it will be some time before anyone moves into their new home.
Macau Urban Renewal (MUR) has announced that its “home swap” housing project on Plot P in Areia Preta district – the site of the ill-fated Pearl Horizon residential project, whose land concession was annulled in early 2016 – will cost MOP 4 billion.
And MUR, a government-owned company tasked with the city’s urban renewal, envisages that the construction of two towers of its temporary housing project on the plot – which comprises a total of eight towers – will cost MOP 878.6 million.
Last March the government granted MUR a 47,682-square-metre land concession on Plot P for the development of its “home swap” housing project and temporary housing project.
The government last year earmarked a 6,828-square-metre site, 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 carried out by China Construction Engineering 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 land concession granted to MUR comprises three areas, designated A, B and C.
A “home swap” housing estate comprising six towers will be built on Area A, which will also include commercial facilities, a car park and swimming pools.
Area B will be a temporary housing estate comprising two towers, commercial facilities and a car park, while Area C will have two temporary housing estates comprising a total of six towers, commercial facilities, a car park and a public bus terminal, according to March’s executive order.
According to MUR, six towers of a “home swap” housing estate will be built on Area A, providing 2,000 units, which are earmarked for sale to eligible Pearl Horizon buyers. A total of eight temporary housing towers will be built on Areas B and C, providing 2,800 units, which are earmarked for residents affected by urban renewal projects to rent and live in temporarily during the redevelopment of their old homes.
MUR said it has granted China Construction Engineering a MOP 4.068-billion contract for the construction of the “home swap” housing project on Area A of Plot P.
MUR has granted a joint venture consisting of three construction companies a MOP 878.6-million contract for the construction of the temporary housing project on Area B of Plot P. The three companies are Coneer Engineering, China Road and Bridge, and Top Design Consultants.
The urban renewal company said earlier this year that it has launched two tenders for its temporary housing project on Area C, The Macau Post Daily reported.