Polytec group retracts MOP25b compensation claim against gov’t

Former Pearl Horizon project developer has given up on suing the Macau SAR government, according to a statement released by the Court of Final Appeal.
Originally, the Sociedade de Importação e Exportação Polytex, Limitada, the developer of the former Pearl Horizon project, sued the government for either compensation amounting to over 25 billion patacas, or a second concession for the company to finish building the property.
On March 30 this year, the administrative court did not find in favor of the plaintiff (the Polytex group).
The plaintiff appealed to the Court of Second Instance (TSI). However, on September 11, 2020, Polytex Group requested to withdraw the appeal, which the prosecution authority (the defendant) consented to.
TSI affirmed the withdrawal of the appeal on September 17, and the affirmation is now in effect.
Previously, the Polytex Group accused the SAR government of not abiding by the law, and abrogating its non-contractual civil obligation. The company claimed that the government’s “unreasonable interference” during the development of the former Pearl Horizon land plot delayed the construction of the project, which eventually led to the expiration of the land plot concession.
On October 25, 2015, the temporary land plot development concession of the former Pearl Horizon project expired, causing a series of demonstrations organized by buyers of the project.