The development in Hengqin comprises more than 4,200 units spread over 27 residential towers, as well as a school and community facilities.
Macau Urban Renewal
Although the apartments are not available for sale yet, interest in the 27-block development has been growing.
According to the developer, units will be priced “so low it is close to cost” with several Macao banks providing home loans with just a 10 percent down payment.
With the development’s final survey to be completed next month, the units can be put on the market slightly earlier than expected.
Around 4,000 two-bedroom and three-bedroom units will be available to qualified buyers, with an estimated price of 33,480 patacas per square metre.
Macao residents to be given priority to buy the 4,279 two- and three-bedroom flats on Hengqin; under mainland China rules, ownership expires after 70 years.
Innovative Hengqin livelihood project will echo Macao’s architecture, with 4,000 residential units, plus schools, health centre and first-rate public services.
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
Saga has dragged on for years as urban renewal company seeks to find a solution to knotty accommodation problems.