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Polytex rolled out support fund for affected buyers

Pearl Horizon developer Polytex Corporation Ltd has introduced interest-free loans to help Pearl Horizon buyers pay their mortgages, local Chinese language newspaper Macao Daily reported. The loan is to help buyers from two different plans, one for those who are under the installment payment plan, and the other for the cash payment plan. Those under […]

Pearl Horizon developer Polytex Corporation Ltd has introduced interest-free loans to help Pearl Horizon buyers pay their mortgages, local Chinese language newspaper Macao Daily reported.
The loan is to help buyers from two different plans, one for those who are under the installment payment plan, and the other for the cash payment plan.
Those under the first type of plan are eligible for loans comprised of four installments of MOP8,000, for a total of MOP32,000, while those under the cash payment plan are eligible for loans comprised of three instalments of MOP7,000, totalling MOP21,000.
However, legislator Zhen Anting said the amounts are less than demanded. Flat buyers were requesting the amount to be between MOP10,000 and MOP15,000 per installment.
Zhen said buyers would continue to strive to extend the funding until the start of the construction.
Buyers can apply for the funding by filling out a form at the office of legislators Zhen and Mak Soi Kun, and the legislators will submit the forms to the developer.
Meanwhile, Kou Meng Pok, the chairman of the Pearl Horizon Condominium Owners United Association, told Macao Daily that they are not satisfied with either the amount or the period of the funding offered.
He opined that the support funding should be continued until the buyers successfully receive the flats, adding that more details would be discussed with the developer in order to improve the offer.

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