LRT East line spurs interest in Oriental Pearl district: JLL

Construction of the Light Rapid Transit (LRT) East Line has drawn increased attention to Areia Preta’s Pérola Oriental district, with realtors noting a rise in interest from prospective homebuyers and investors.

With full operations expected by the second half of 2029, the area is becoming an emerging option for residential development, according to Jones Lang LaSalle (JLL) Macau.

The firm noted that Oriental Pearl is the only private residential area situated directly next to an East Line station, giving it a potentially strategic advantage.

“Across the entire East Line, the Oriental Pearl district stands out as the only developed private residential area directly adjacent to a station,” said Mark Wong, senior director of valuation and advisory services at JLL Macau. “This will not only support local property prices but also stimulate greater activity in the rental market. We anticipate growing interest from capital across Mainland China, Hong Kong, and overseas.”

Once operational, the LRT East Line will offer direct, one-stop travel from the Border Gate station and improved access to various parts of the city, enhancing convenience for residents and visitors.

A notable development in the area is The Residencia, situated between exits A1 and B of the East Line ES2 station.

JLL reported that a 600-meter skyway connecting the project is also under construction, with completion expected by June 2027.

Despite growing interest, available private housing in Macau remains limited due to land restrictions and the prioritization of public housing. According to JLL, this limited supply, combined with existing infrastructure and community facilities in the Oriental Pearl district, supports its long-term value.

Current prices for mid- to high-end units in the area range between MOP7,000 and MOP9,000 per square foot, figures that remain lower than similar properties in Hong Kong.

Property values in the district are still roughly 30% below their 2018 peak, potentially offering room for appreciation.

JLL also cited Macau’s currency peg to the U.S. dollar as a factor that could provide financial stability to buyers.

The local rental market is also showing signs of stability.

JLL reported steady demand from tenants in the Oriental Pearl district and expects rental returns to remain strong for investors seeking medium- to long-term yields.

Citywide, private residential rents remained steady in early 2025, with slight upward movement observed. Wong estimated that rent growth for the full year could reach as much as 5%.