Big Portfolios

The latest asset declarations filed by the Chief Executive, major government officials and Executive Council (ExCo) and Legislative Assembly members during the first quarter reveal that directly-elected legislator Chan Meng Kam is the ‘Prince of Property’, owning 203 units of real estate, which is the largest property portfolio held by any government member or legislator.
According to the asset declaration of ExCo member Mr. Chan, 54 of his declared properties are shops, 38 are residential units, 28 are offices, 82 are parking spaces, while the remaining item of real estate is a hotel building.
More than half of his real estate portfolio, 132 properties, are located in Mainland China, including the hotel building, while 68 of his properties are located in the Macau Special Administrative Region, with three located overseas.
In addition, the legislator claims in his declaration that as many as 86 of his properties are for self-use, namely the 23 residential flats, 2 shops and 61 parking spaces. The other properties are for lending or for rental, he declared.

Changes
In fact, the number of properties that Chan Meng Kam currently owns has dwindled from those he owned two years ago.
According to his asset declaration in 2013, he possessed a total of 407 properties, of which 239 were shops. In 2014, the properties owned by Mr. Chan declined to 376, of which 222 are shops.
Meanwhile, the number of properties that Secretary for Transport and Public Works Raimundo do Rosário owns is the second highest among government members declaring their assets during the first quarter.
As Business Daily reported in December last year, the Secretary owns a total of 23 properties, including 5 residential units and 18 buildings. Despite the Secretary not indicating where his properties are located in his declaration, Business Daily was informed by a source and reported last year that they are all located in Portugal.
In addition, four Executive Council members declared that they have more than 10 properties; namely, Eddie Yue Kai Wong, Ma Iao Lai, legislator Chan Chak Mo and Liu Chak Wan, who own 22, 15, 13 and 12 properties, respectively, according to their declarations.

Runners-up Vong Hin Fai & Vitor Cheung
Comparing these recent declarations with those submitted by all legislators in 2013 and 2014, CE-appointed legislator Vong Hin Fai replaces Secretary Rosário as the first runner-up in the property-prince list.
According to Mr. Vong’s 2014 filing, he owns 58.5 properties, of which 14 are residential units, 18.5 are commercial units, one is an office, and 23 are parking spaces, with 17 for cars and 8 for motorbikes. The legislator claims in his declaration that his properties are either for self-use or investment.
In addition, indirectly-elected legislator Vitor Cheung Lup Kwan owns a total of 55 properties, of which 41 offices and one shop are in the same building and are for rent. Moreover, 7 other of his properties are residential units, 2 are shops, 3 are storehouses and one is parking space, all for self-use.

The Princess
Moving along, directly-elected legislator Angela Leong On Kei, managing director of SJM Holdings Limited and fourth ‘wife’ of Macau casino tycoon Stanley Ho, stands out as the government’s ‘property princess’.
According to her 2013 assets declaration, she owns 52 properties, including one building, 38 residential units, 11 parking slots and 2 shops. Only the building was for her self-use, she claimed, while the other properties were for rent.
Meanwhile, the number of properties that the remaining four Secretaries own is similar to what Business Daily reported last year. Secretary for Culture and Social Affairs Alexis Tam Chong Weng has 9 properties in all; Secretary for Administration and Justice Sonia Chan Hoi Fan owns 5; Secretary for Economy and Finance Lionel Leong Vai Tac possesses two residential units, while Secretary for Security Wong Sio Chak owns two flats and two parking spaces.

CE owns 6 properties

The assets declaration filed by Chief Executive Fernando Chui Sai On in March indicated that he owns a total of six properties, which is the same as in 2013. Of his properties, one is a residential flat; one is a two-storey house, while three are parking spaces. The other property he possesses is located in Mainland China and is only 50 per cent owned by him. The CE says that most of his properties are for self-use, except for the two-storey house, which is for rent.