Appointed by the land owner as sole agent, Savills (Macau) offer for sale via public tender for Land at Caminho das Hortas, Taipa, Macau Land Registry Property Reference Number: 19498, 19499 &13950. The tender period is scheduled to close at 12pm Macau time on 29 March 2011.
Low borrowing costs for an extended period supported by the continued global economic recovery have stimulated the economy in Macau with a GDP of MOP$146.4 billion between Q1 and Q3 2010, up 25.3% year on year. The real estate market in 2010 reported some 30K transactions and a transacted volume of MOP$56.7 billion, up 71% and 120% respectively, compared to the previous year. The housing sector alone recorded some 18K transactions and a transacted volume of some MOP$46 billion, up 59% and 110% respectively. This is evident by the successful release of major housing development including One Oasis, Lake View Tower, The Residencia and The Residences & Apartments at the Mandarin Oriental.
The release is to comprise two separate land parcels totaling some 40,000 sq. ft at Taipa centre – alongside the University of Macau, major residential development including Nova City, The Manhattan, Kings Ville and The Pacifica Garden together with extensive community infrastructure and other amenities. Meanwhile, being strategically located at Taipa centre with easy access to Friendship Bridge and Est. Governador Nobre de Carvalho, it would only take mere minutes to travel between Macau Peninsula, The Outer Harbour Ferry Terminal, Macau International Airport or the “Cotai Strip”.
“The supply of land for housing is very limited in Macau with only a handful of land transactions since 1999. The release is a rare opportunity to purchase a prime freehold land ownership with strategic development potential. Taipa’s TN Development Zone is a fast growing and dynamic area that is currently undergoing significant investment in infrastructure, housing and employment opportunities, including Zones 5 & 6 at the ‘Golden Strio’, Macau Light Rail Transit and the Zhuhai Hengqin New Area (The First Demonstration Zone of China for Close Cooperation between Guangdong, Hong Kong and Macau). The land release for sale at Caminho das Hortas will capitalise this growth by providing timely housing in line with the aims of the State Government’s plan for Zhuhai Hengqin New Area.” says Franco Liu, Managing Director of Savills (Macau).