Two plots of land at Fai Chi Kei were leased to one company that offered more than 555 million and 867 million, the highest bids, in two sealed public tenders opened by the Land Commission today. According to a press statement issued by the Lands, Public Works and Transport Bureau, the two sites, Plot D and Plot E, with total land areas of 1,704 square metres and 2,967 square metres respectively, had reserve prices of 55 million and 95 million patacas. They attracted a total of 22 bidders and 15 bidders. The Land Commission disqualified three submissions for the smaller Plot D because they lacked the required documentation. Companhia de Investimentos Tin Wei, Lda. the winner of the two tenders, was granted the leases for 25 years and it is required to complete construction within 36 months. Under the lease agreements, the plots are for residential use and their heights limited to 90 metres maximum. The Chairman of the Land Commission, Mr Jaime Roberto Carion, said the price offered showed investors’ confidence in Macao. He noted that it was estimated that there were about 16,000 vacant flats in Macao at present and those under the approval stage and those under construction could reach 35,000. He reiterated that the Government would build 19,000 public housing units by 2012 and was planning a host of measures to help those in need of housing.
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