A total of 7,652 residential flats were under construction at the end of March, and the units are expected to be absorbed by the market over the next three years, the managing director of the local office of Jones Lang LaSalle (JLL), Gregory Ku Ka Ho, said during yesterday’s Macau Mid-year Property Review press conference at the office in the Finance and IT Centre.
Ku noted that 14, 572 residential units are currently in the design stage, including those for the Ilha Verde Urbanisation Plan and Northern Taipa Urbanisation Plan, but construction of the projects was unlikely to start any time soon because, according to Ku, there are still no detailed plans for the development of these two areas.
Ku urged the government to speed up the urban renewal projects and “proactively find ways to increase land supply” to prevent the city’s property market from facing the dilemma of discontinuity of supply.
Gregory Ku Ka Ho, the managing director of the local office of Jones Lang LaSalle’s (JLL), speaks to reporters on the sidelines of yesterday’s Macau Mid-year Property Review press conference at his office in the Finance and IT Centre. Photo: Prisca Tang
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