Macau Urban Renewal Limited has initiated new pile foundation works for temporary and home-swap housing units on Lot P in Areia Preta.
Construction of the temporary housing units and home-swap housing units on Lot P – previously earmarked for the failed Pearl Horizon project – began mid last year, with abandoned pile caps removed, existing piles tested and works for new pile foundation currently underway.
Temporary Housing units will allow property owners affected by urban renewal to rent as temporary accommodation when their buildings are being redeveloped, with buyers previously affected by the suspended Pearl Horizon project able to obtain a unit in the project.
Construction of the project is planned for completion in 2024, and upon completion, it will provide about 2,900 car parking spaces and over 1,000 motorcycle parking spaces.
Lot P comprises three lots of land and public roads. Lot A will have six residential towers, providing about 2,000 home-swap housing units, Lot B and Lot C will have eight residential towers, providing about 2,800 temporary housing units.
The structure is of podium-style building, which will feature a green deck, retail space, public transport interchange, two new public roads of 24 metres wide each including carriageways and pedestrian walkways, fire lanes, complemented with pedestrian streets and a footbridge to connect to nearby communities and to effectively improve mobility in the area.
On one of the lots, two 41-story residential towers and two other 50-story temporary housing towers, worth MOP1.92 billion (US$239.4 million) are expected to be built by Ming Shun Construction and Property Investment Limited-Tat Cheong Engineering & Construction Company Limited.
For the other lot, the construction of two 50-story residential towers of temporary housing units was awarded to Cheong Kong Construction Company Limited-J&T Construction Company Limited for MOP1.11 billion.
A letter of intent was also signed for the payment of MOP4 billion to China Construction Engineering for the works in Lot A relating to replacement housing, plus a MOP878.6 million agreement with Coneer Engineering Limited-China Road and Bridge Corporation-Top Design Consultants for the contract for Lot B