Macau Urban Renewal Limited has estimated that it expects its main residential project in Hengqin to obtain a mainland China Commercial Housing Pre-sale Permit by the end of this year, TDM Radio reported.
The public development company visited Macau United Citizens Association some days ago and explained the plan for the reconstruction of the Iao Hon Estate and its Macau New Neighbourhood residential project in Hengqin.
MUR completed the pile foundation works for the 4000-unit residential project with basement works being carried out works for all basement structures to be completed by the middle of this year.
The residential project advanced in 2021 and will have about 4,000 residential units available for sale and over 200 housing units for qualified professionals.
The neighbourhood will have amenities and facilities such as a kindergarten with 12 class levels and a primary school with 18 class levels, a health station, a seniors’ service centre, a family service centre and an underground car park, with the provision of Macau standard public services, plus over 5,000 square metres of commercial space.
It currently covers about 190,000 square metres of land area with a floor area of about 620,000 square metres, with 27 residential towers to be connected by wind and rain corridors to facilitate pedestrian access.
Formed by the Macau SAR Government, the Macau Industrial and Commercial Development Fund and the Science and Technology Development Fund, MUR is an executing entity responsible for urban renewal in Macau.
The public company is also responsible for the redevelopment project of the Iao Hon Estate and indicated during the session that most owners in the seven blocks that comprise the estate have agreed to the reconstruction plan.
The Iao Hon Estate includes seven ‘house blocks’, the Hong Tai House, Kat Cheong House, Son Lei House, Heng Long House, Mau Tan House, Mas Sau House, and Seng Yee House.
Moreover, the working group of the company emphasized that they would keep discussing with the residential owners and push forward the reconstruction project without the need to purchase any housing units.
Macau authorities first announced plans to attempt to develop the ageing estate in 2004, but only after the Urban Planning Committee was founded in 2016 and the Macau Urban Renewal, a public company in charge of urban redevelopment was created in 2019 could the renewal finally advance.
The estate built in the 1970s includes 2,566 residential and non-residential units in its seven blocks, with a survey commissioned by MUR estimating that 12,014 people live in the estate, making it the most densely populated property in the city, with an average of 5.3 persons per unit against the local average of 3 persons.