New residential mortgage loans (RMLs) approvals by Macau banks dropped by 19.8% month-to-month to MOP1.40 billion in June, while commercial real estate loans (CRELs) increased by 387.3% month-to-month to MOP12.91 billion. As for the outstanding balances, the outstanding value of RMLs fell by 0.3% month-to-month but rose by 0.1% from a year earlier to MOP158.6 billion, according to statistics provided by the Monetary Authority of Macao (AMCM). The outstanding value of CRELs dropped by 1.1% month-to-month or 1.4% from a year earlier to MOP158.6 billion.
Lateral support works begin for Lot P housing project
Macau Urban Renewal Limited (MUR) is pushing forward the temporary and home-swap housing project on Lot P in Areia Preta. The construction of the new pile foundation is “progressing well, pile foundation works have been completed in some areas, where excavation and lateral support (ELS) works have started,” the firm said. The Lot P project began in the middle of last year, the existing pile caps and the existing pile foundation on the site have since then been removed and processed, and the project is progressing according to plan.
