Macau | Local branch of Confucius Institute operative by early 2018
| 10:00pm
Film Festival | Hunting Season wins the Best Film Award at IFFAM
| 09:28pm
Macau | Future uncertain for Canidrome dogs as deadline looms
| 09:17pm
Macau | Local hotel industry service is on top of the list in Asia - Hotelier Awards Director
| 06:58pm
Two astronauts, cosmonaut return from five-month ISS mission
| 06:43pm
Macau | Record-breaking land transaction in Macau SAR confirmed, William Kwan vendor in the deal
| 06:27pm
Macau | Gov't striving to complete internal legislative procedure for taxi regulations by Q1 2018 - Sonia Chan
| 06:21pm
Film Festival | Brazilian director and producer at IFFAM Project Market highlight feedback from industry
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Seven decades in the making, EU set to sign defence pact
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Macau Lifestyle | DFS Masters of Time luxury watch exhibition to be held until Feb. 28, 2018
| 05:53pm

Housing transactions rebound

Housing transactions were up 12.8 per cent in November over October. Financial Services Bureau data also notes that average housing prices declined 13.7pct in the period.

The reclamation project for new urban reclaimed Zone E1, a site adjacent to Taipa Terminal, is to cost some MOP419.5 million (US$52.5 million) with the works starting within the first quarter of 2015, following a year of delay. As disclosed in the Official Gazette yesterday, the government is to sign a nearly MOP419.5 million contract with the China Civil consortium. Engineering Construction Company (Macau) Ltd. and Hong Kong River Engineering Company Ltd. for the Zone E1 reclamation project will take 685 days to complete the works. The consortium was awarded the contract after the Infrastructure Development Office re-launched a public tender for the reclamation project in June 2014. It had cancelled the public tender process in the previous year when two bidders submitted identical costs for Zone E1 reclamation works of MOP456 million – the lowest of the 11 bids. The cancellation of the public tender has invited lawsuits against the government by the two bidders, one a joint venture of Changjiang Waterway Bureau and Companhia de Obras de Construção and Engenharia Jiao Hang (Macau) Limitada, and another China Road and Bridge Corporation. The incidence has resulted in the E1 reclamation project being delayed from the third quarter in 2013 to the first quarter of 2015. Zone E, which occupies 73 hectares, comprises plots E1 and E2. The 53-hectare E1 is adjacent to the Taipa Terminal, while the 20-hectare E2 plot is near the Macau International Airport on its southeast. The land filling works of the smaller plot E2 was completed in the fourth quarter of 2012. The government plans to have Zone E1 developed as a mixed commercial and residential site accommodating transport facilities for the land-scarce city. The consortium of China Civil Engineering Construction Company (Macau) Ltd. and Hong Kong River Engineering Company Ltd. won the Zone E1 reclamation project with the lowest bid of the eight bids received by the government. The highest bid submitted amounted to MOP692.88 million.

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