No speculation for public housing sale: Secretary Lau

Saturday, April 30, 2011
Issue 1296, Page 3
Word count: 434
Published in: Macau Daily Times

By Poyi (Natalie) Leung

Secretary for Transport and Public Works Lau Si Io clarified yesterday that the future rules for the sale of unfinished real estate will not have any impact on the advance sale of affordable housing which is expected to begin in the last quarter of this year.

Speaking to reporters on the sidelines of a cocktail reception, Lau said the two systems are completely different from each other.

The legal system and the guidelines to regulate the sale of incomplete property, according to the secretary, are mainly aimed to “suppress speculation activities in the private market and ensure information transparency for both sellers and buyers”.

In contrast, the advance sale system of affordable housing is aimed at ‘allowing households on the waiting list to be able to choose apartments sooner and allow them to prepare for the move’.

In addition, the secretary stressed that the sale “will not give rise to speculation or involve any mortgage loans”.

The proposal of the legal system has just completed the public consultation while the corresponding guidelines are expected to be rolled out in May.

The draft law for the sale and construction system of affordable housing is under deliberation at the Legislative Assembly.

A total of 18 companies competed in the second public tender for the construction of Seac Pai Van public housing and have respectively proposed a budget from MOP 181.96 million to MOP 233.8 million.

The Infrastructure Development Office (GDI) yesterday opened the sealed tender proposals for the Zone 2 of plot CN3 in Seac Pai Van. There, two residential buildings standing 26 storey’s high with 466 one to three bedroom units as well as podium gardens and social service facilities will be built.

The Seac Pai Van 8,649 unit public housing project is situated on a site composed of three land plots which are respectively CN3, CN4 and CN5A.

The bids for the Zone 1 of plot CN3 were opened in February. Construction includes four 26 storey towers providing a total of 892 units and a public car park.

Plot CN3 near the Seac Pai Van Park will be the first part of the project to begin construction.

According to a GDI official, the bids for Zone 3 of plot CN3, CN4 and CN5A will be opened in May. The Government says it will complete the construction of the entire Seac Pai Van project before the end of 2012, he said.

Zone 3 of plot CN3 will provide 466 units in two towers, CN4 will house 4,672 units in six towers and a public car park, and CN5A will house 2,153 units in 10 towers.

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