The government yesterday granted a provisional land concession of Plot BT9a in central Taipa to the sole bidder of the plot’s auction, which offered a price of 893.666 million patacas, 15 percent higher than the plot’s reserve price of 777 million patacas.
After yesterday’s unsealing of the bid for Plot BT9a, the winner told reporters that the plot’s future residential development project is expected to provide around 200 flats.
The government launched separate public tenders on August 9 for the granting of land concessions of two adjacent plots, officially known as BT8 and BT9a, for private residential development projects. However, no bid had been received for Plot BT8’s land auction, while only one bid had been submitted for Plot BT9a’s land auction, before the two auctions’ bidding deadlines ended at 12 p.m. on Tuesday.
Plot BT8, which covers an area of 3,509 square metres, had a reserve price of 1.136 billion patacas, while Plot BT9a, which covers an area of 3,225 square metres, had a reserve price of 777 million patacas.
The adjacent plots are located between the Nam San Garden residential estate and the Nova Taipa Garden residential estate.
The sole bid for Plot’s BT9a was unsealed by Lands and Urban Construction Bureau (DSSCU) officials during a session at the bureau’s premises yesterday afternoon. The session, which was chaired by DSSCU Deputy Director Mak Tat Io, lasted around 1.5 hours, during which he and other officials assessed the bid before he announced that it had been accepted. As only one bid had been submitted, Mak announced that Plot BT9a’s provisional land concession had been granted to the sole bidder, a joint venture between Top Builders International Company Limited and Ascent Investment Company Limited, which offered a price of 893.666 million patacas.
No long-term plan for future land auctions
Speaking to reporters after the session, DSSCU Director Lai Weng Leong said that the government will need to study whether it would hold a land auction for Plot BT8 again in the near future.
According to the current Land Law, which took effect in 2014, all new land concessions must be awarded via open tender except when public interest is involved.
The two land auctions for BT8 and BT9a were the first held since the new Land Law took effect.
Lai said that he “did not expect” the public tender for Plot BT8 to receive no bids.
Lai also underlined that for the time being the government does not have a long-term plan for holding land auctions for various other undeveloped plots in the city.
The government said early this year that it aimed to hold land auctions within this year for four plots earmarked for residential projects.
Lai also said yesterday that the government now expects to transfer Plot BT9a to the winner by the end of this year for its development project there.
The government initially planned to build a temporary tyre park on a large area comprising idle plots BT11, BT12, BT8, BT9a, and BT9, but decided last year to cancel that project.
An area comprising plots BT11 and BT12, located between Nam San Garden and plots BT8 and BT9a, is planned for a park and an underground ice-skating rink.
Plot BT9 is located between BT8 and BT9a and Nova Taipa Garden. BT9, for which the government has still not launched a land auction, will also be earmarked for a private residential development project.
Plots BT8, BT9 and BT9a all have an official maximum height limit of 90 metres for development projects.
Macau had not held land auctions since 2008.
Neither big nor mini flats
Also speaking to reporters after yesterday afternoon’s session, Tang Hon Cheong, general manager of Top Builders International, said that he was “surprised” that Plot BT9a’s land auction had only received one bid, adding that he initially expected several companies to submit bids.
Tang said that his joint venture decided not to submit a bid for Plot BT8 because the smaller-sized BT9a would be more “suitable and feasible” for the joint venture’s development plan.
Tang is also a board member of Ascent Investment Company Limited.
Tang underlined that his joint venture will soon start the design of the residential project, adding that he expected the building to have around 30 storeys, providing around 200 flats.
Tang said that his joint venture does not plan to build large flats, neither mini-sized units, for the project, adding that the building would feature moderate-sized flats suitable for local families.
Tang said that the residential project would be of middle-to-high class standards. He also said that his joint venture expects to complete the project within four years after the government’s transfer of the plot.
Tang Hon Cheong, general manager of Top Builders International, talks to reporters at the Lands and Urban Construction Bureau (DSSCU) on Estrada de D. Maria II yesterday.
Lands and Urban Construction Bureau (DSSCU) Director Lai Weng Leong speaks to reporters at his bureau yesterday.
– Photos: Tony Wong
