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Macau
Tuesday, March 28, 2017

House rules

The Housing Bureau found 49 cases of suspected irregularities by owners of government public housing in 2016
Property developer Agile Group Holdings saw a 64.3 per cent increase in its profit for the 2016 year, according to the group’s filing with the Hong Kong Stock Exchange. Total profit attributable to shareholders reached RMB2.28 billion, while revenue...
February data in the property sector didn’t make the grade. Real estate in the MSAR fell in almost every detail. Although Coloane housing held its own following the Chinese New Year holiday.
The Housing Bureau concluded the public tender for the concession of 18 commercial spaces in the Ip Heng Building located in Seac Pai Van in Coloane yesterday to rent out all the units at an average price of some...
Property developer Country Garden Holdings Ltd. achieved a total of RMB87.26 billion (MOP100.7 billion) in contracted sales for the first two months of the year, according to the group’s filing with the Hong Kong Stock Exchange. The company operates primarily...
In particular, those for uncompleted units nearly halved from December 2016

Partial promises

Homebuyers of incomplete residential project Pearl Horizon may request a refund from the developer, Polytech Group, says its chairman. Refunds would only be for first-hand buyers, however, a situation that representatives of the home purchasers believe could worsen the issue. Only completion of the project will resolve the conflict, say representatives. The Polytech chairman reiterates the fault lies with the gov’t for lack of development, and claims thecompany will ‘never run away irresponsibly’.

Counting the units

The number of hotel rooms under construction fell 41 pct y-o-y in Q4 of last year, with 49 hotels being planned or under construction. New rooms will occupy nearly 1 mln square metres, with the majority of new projects on the peninsula. Some 100 building projects were also completed or under construction in Q4, providing 11,267 more housing units, 60 pct of which are under 75 square metres in size.
AL head: Chairman of the National People’s Congress thinks the MSAR Land Law doesn’t “violate” the city’s Basic Law
Hong Kong-listed developer Chinese Estates Holdings Ltd. said Macau’s courts are still hearing an appeal filed by Moon Ocean Ltd. regarding the now-scrapped La Scala project. According to the company’s annual results on the Hong Kong Stock Exchange, Moon Ocean’s...
The President of Macau Property Evaluation Association Leong Keng Seng says the biggest challenge of reconstructing old buildings in the city is to confirm the ownership of such buildings. Speaking on local radio programme Macao Forum yesterday, Mr. Leong...
Property developer Tomson Group Limited expects to post ‘a substantial increase’ of nearly 60 per cent in its consolidated profit for the year ended December 31 2016, owing to an increase in proceeds from the sale of the group’s...
Guangzhou-based property developer Agile Group Holdings Ltd. gained some RMB6.41 billion (MOP7.4 billion/US$925 million) from the pre-sales of its property projects in the Mainland for the second month of the year, which surged 86 per cent year-on-year. According to a company...
Gov’t has received over MOP208 mln from the Special Stamp Duty since its implementation in June 2011. For the first time, the Financial Services Bureau has published the data, showing 348 housing transactions subject to the payment as at January-end, and a total of 498 property transactions subject to the SSD.
Two other land concessions in Coloane have also been declared invalid
Hong Kong-listed footwear manufacturer and retailer Le Saunda Holdings Ltd. has acquired a 456-square metre property at Guangzhou Metro Plaza in Guangzhou for a consideration of RMB10.8 million (MOP12.5 million/US$1.6 million). According to a company filing with the Hong Kong...
The MSAR government has awarded the new construction contract of the Mong Ha Social Housing Phase 2 and the reconstruction of the basement area of the Mong Ha Sports Pavilion to Zhen Haw Harbour Construction Co Ltd and Companhia...
Last year, housing transaction values reached a total of MOP58.8 billion, accounting for nearly 80 per cent of the total

Real Estate Rocketing

Real estate in the MSAR continues its upward trajectory. With total transactions increasing dramatically in January. Despite an astounding 60 per cent rise, however, the sector has started to moderate its performance compared to a hectic end to 2016.

Whose fault is it?

Another statement by the city’s land awardees as they argue that they are not responsible for the non-development of their awarded plots
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