Macau Business. 27 March 2023. By Airies Un.
The 4000 apartments, in 27 blocks, in Macau New Neighbourhood complex on Hengqin Island were topped out last December, with refurbishment now underway. They are expected to go up for sale in the second quarter of 2023 with each unit to cost RMB30,000 (US$4361/ MOP35,300) per square meter / HKD3,185 per square foot.
Authorities are making preparations to draw businesses interested in filling the commercial area of the community complex dedicated to Macau locals in Hengqin.
According to a reply to lawmaker Leong Sun Iok’s questions about the Macau New Neighbourhood project from Macau Urban Renewal – a company formed by the Macau government to take over urban rearrangements – the authorities will soon reach out to local businesses over the matter.
“Small and medium-sized enterprises and brands from Macau will the first to be considered,” said Peter Lam Kam Seng, chairperson of the broad of directors of the company. “The direction is to satisfy the daily needs of households there.”
The Macau-only initiative seeks to provide housing for local citizens on the neighbouring island whose future is now intertwined with Macau’s under a broader directive from Beijing.
