Two adjacent plots of land along Avenida Dr Sun Yat-Sen in Taipa have been sold for HK$3.51 billion (3.61 billion patacas) to Hong Kong-listed company Jiayuan International Group Limited, real estate and investment management company Jones Lang LaSalle (JLL) said in a statement yesterday.
The statement from JLL, which facilitated the deal, said that the sale of the 5,597-square-metre site has “[broken] the record of transaction values of development sites in the city”.
According to JLL, the two adjacent plots of land designated Lot TN20 and Lot TN24 are freeholds which are extremely rare and make up only about 5 percent of the overall land supply in Macau.
The JLL statement said that the purchaser, Jiayuan International Group Limited, is a property developer with over 20 years’ experience in real estate development, which has developed a total of 21 large-scale residential complexes and eight integrated commercial projects in different cities in mainland China.
The statement did not say how the buyer plans to develop the tract of land.
According to JLL, with the acquisition of the two connected plots of land in Macau this year, Jiayuan International has extended its business footprint in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
JLL Macau Managing Director Gregory Ku Ka Hou was quoted by the statement as saying that major infrastructure improvements in the region would stimulate the local property market.
“With the major infrastructures such as the Hong Kong-Zhuhai-Macau Bridge and Guangzhou-Zhuhai Intercity Rail Extension entering their completion stage, and the Guangdong-Hong Kong-Macau Greater Bay Area beginning to take shape, the developers in [mainland] China have started to look for opportunities in the region,” Ku said.
This undated handout photo provided by JLL yesterday shows the two-plot development site in Taipa that has been sold for a record HK$3.51 billion.
