‘Pearl Horizon’ buyers stage new protest

A group of protesters staged a new protest yesterday after government confirmation last Friday in the Official Gazette that considers Pearl Horizon’s Lot P concession as having expired as of December 25 last year.
The march started at the Polytec headquarters, ending at the Central Government Liaison Office in Macau, where a petition was delivered. The representative of the Pearl Horizon pre-sales owners revealed that people who were affected by the case “are in panic,” claiming that many of the pre-sale buyers are paying high mortgages up to MOP20,000 per month to the banks without any guarantees that they will ever see the return of their units.
The government declared that the developer has failed to complete the projects during the term of their land-­use agreement. The buyers are likely to continue to request that the Pearl Horizon project be completed in 2018.