Lengthy and convoluted negotiations come to an end as work – due to be completed by December 2024 – gets going in earnest in Areia Preta district
pearl horizon
Saga has dragged on for years as urban renewal company seeks to find a solution to knotty accommodation problems.
Scheme will see 4,800 new flats in Areia Preta, in a complicated deal on the site of the ill-fated Pearl Horizons development.
The Pearl Horizon pre-sale buyers are eligible to buy a unit in its “home swap” housing project.
The locally registered Polytex Import and Export Co. Ltd. will demand from the government at least 60 billion patacas in compensation if the government fails to grant the land concession of the mothballed Pearl Horizon mixed-used property project to company again, the Portuguese-language newspaper Hoje Macau reported.
Polytec Asset Holdings Limited said Thursday it was of the view that its Macau-registered affiliate Polytex Import and Export Company Ltd. “has strong legal grounds and arguments to seek compensation” from the Macau government “for losses and damages” concerning its mothballed Pearl Horizon property project.
About 2,000 Pearl Horizon homeowners staged a street protest on Sunday, hoping to meet with the Chief Executive to find a way out for the suspended Areia Preta residential project. An owners association says a short-term assistance program introduced by the developer is no solution. Some 2,000 Pearl Horizon homeowners took to the streets to […]
