Macau Urban Renewal Limited (MUR) says that it is asking banks and other financial institutions to offer mortgage loans of up to 90 percent to buyers of flats in its Macau New Neighbourhood (MNN) residential project in Zhuhai’s Hengqin island.
An MUR statement on Sunday underlined that the MNN project has entered its “key stage” of final survey inspection and formal acceptance, adding that landscaping and road works are intensively being carried out there.
The statement also underlined that after the Hengqin authorities complete the final administrative formalities for the project, home sales can start.
The MNN project, which got off the ground in 2021, is being developed by Macau Urban Renewal Limited, which is owned by the Macau government.
The MNN project consists of 27 residential towers, the topping-out of which was completed at the end of last year. The project features commercial facilities as well as various social service and community amenities.
MUR said earlier this year that it was aiming to start MNN home sales this month after the project’s final survey inspection and formal acceptance was scheduled to be completed last month.
The MNN neighbourhood will have a school, a health station, a service centre for senior citizens, and a family service centre.
MUR started in July to collect opinions from those who intend to buy an MNN flat with the aim of gaining a better understanding of Macau residents’ desire for the flats.
Macau residents aged 18 or over who do not own any residential property in Zhuhai nor own more than one residential unit in Macau will be eligible to buy an MNN flat.
MUR has said that there will be around 60 shop units in the MNN commercial space, which covers around 5,000 square metres.
The statement said that according to the findings of the company’s collection of opinions, restaurants, supermarkets, and outlets supporting residents’ daily living are the top three types of shop units that potential MNN flat buyers want the MNN commercial space to have.
The findings also show that 88 percent of those who submitted their opinions said that they needed a mortgage to buy an MNN flat, the statement said.
The statement underlined that MUR has studied the opinions collected and has accordingly made certain “improvements” to its ongoing preparation work for MNN home sales. The statement said that MUR will now put stronger emphasis on attracting more businesses to run restaurants in the MNN commercial space.
According to the statement, MUR is now intensively reaching out to banks and other relevant financial institutions asking them to offer MNN flat buyers a mortgage of 80 percent or even 90 percent. The statement underlined that the feedback from the financial institutions has been “positive” because of which MUR remains “optimistic” about the matter.
This undated handout photo released by Macau Urban Renewal Limited (MUR) on Sunday shows road works being carried out outside a school in the Macau New Neighbourhood (MNN) residential estate in Hengqin.
