The future Ocean Hill residential project near Avenida Dr. Sun Yat-Sen in Taipa will include some 627 one to two-bedroom units, according to real estate agency information consulted by Macau News Agency.
The project is being developed by Jiayuan International Group, a Jiangsu-based property developer that purchased the area for HK$3.5 billion (US$447.3 million) in 2017.
Foundation works were initiated in December of last year after authorisation provided by the Land, Public Works and Transport Bureau (DSSOPT).
The project in the 5,597 square meters land plot is expected to have some 60,969 square meters in gross floor area and is expected to be finished by the last quarter of 2022, according to the latest Jianyuan financial report.
However, according to the same real estate agency, it is likely the project will be finished after that deadline considering the licensing period required.