Pearl Metropolitan replacement housing sales fall short of expectations

The purchase period for replacement housing units at the Pearl Metropolitan project in Areia Preta has officially ended, with just 338 applicants completing the purchase process, according to data provided to TDM Radio by Macau Urban Renewal Limited (MUR).

This represents less than 20% of the 1,923 qualified applicants identified for the scheme.

The deadline, set at the end of January, followed an executive order issued in November last year. Construction of the Pearl Metropolitan began in 2021 as a solution for buyers affected by the Pearl Horizon project, which was never realized.

The residential complex consists of six 50-story apartment blocks, offering a total of 2,064 independent units. Despite the low uptake, MUR said it is actively exploring alternative strategies to market the apartments. Options under consideration include broadening eligibility criteria, which could require amendments to the 2019 legal framework governing temporary housing and replacement housing schemes.

Further announcements regarding eligibility adjustments or other sales measures are expected in the coming months.