The Macau New Neighbourhood (MNN) project for Macau buyers will strive for a minimum loan-to-value ratio of 80% for residential units, Macau Urban Renewal Limited (MUR) said in a statement.
According to the statement, the project “has entered the key stage of inspection, as landscaping and road works are currently being carried out.”
It is expected that the project will pass inspection this month, the company added.
The project is located on Zhuhai’s Hengqin and is designed to cater to Macau residents.
The MUR stated that it had collected opinions from Macau residents regarding their motivation and interest in owning units at the MNN project. The MUR said that the data was collected “through multiple platforms including online and offline.”
With 88% of respondents expressing the need for mortgage arrangements, the MUR underlined that it has been actively engaging with relevant financial institutions to propose a maximum loan-to-value ratio of at least 80% for MNN residential units for Macau residents.
Respondents also raised concerns about essential amenities within the project, so the MUR pledged to attract more catering brands to the 5,000 sqm. commercial space, and prepare for the inclusion of education facilities.
An online application platform will launch soon. A shuttle bus service between Hengqin Border and the MNN project will also be in operation. Over 4,000 parking spaces have also been built, and the MUR hopes to offer full furnishing options when the units are sold.
In accordance with the laws and policies, completed homes can be put up for sale once the relevant departments in Hengqin have completed the necessary reporting and registration processes, which are part of the approval process, the MUR explained. AL
