Macau Urban Renewal Limited (MUR) recently helped Iao Hon Estate Seng I House’s property owners to organise “condominium owners’ general assembly meetings” to set up their own management committees to form the basis of its redevelopment, the company said in a statement last week.
The statement noted that Seng I House is among the seven blocks of flats that make up the Iao Hon Estate and, after Son Lei House, is the second group of property owners in the estate’s old neighbourhood renewal project that has set up management committees.
The management committees, the statement added, are also known as property owners’ associations.
The statement said that during the meeting, MUR helped property owners to think about and pass a resolution to elect a committee for the general assembly of condominium owners, and a chairperson to chair the meeting and prepare the meeting’s minutes.
The company also assisted in deliberating and passing a resolution on the condominium management committee’s name and in electing its members, as well as in deliberating and passing a resolution to authorise the committee to open a bank account for a sinking fund, according to the statement.
Investopedia defines a sinking fund as “a fund containing money set aside or saved to pay off a debt or bond”.
The statement added that a presentation of Iao Hon Estate’s old neighbourhood renewal project was delivered by MUR representatives, who also answered the property owner’s questions, gauged their opinions and exchanged views.
The property owners also viewed the temporary housing show flats, with the statement noting that they were pleased with the units’ design and “believed that temporary housing would help boost their confidence in the redevelopment project”.
The statement added that MUR has continued to provide assistance to Son Lei House’s property owners after four of its buildings set up management committees in August last year, such as through helping them apply for “One Stop Service – Issuing the Urban Conditional Plan (PCU) for the area without detailed planning”.
MUR is a company owned by the Macau government.
This undated handout photo provided by Macau Urban Renewal Limited (MUR) last week shows MUR representatives giving a presentation about the old neighbourhood renewal project to Seng I House property owners.
