Yoho Group clarifies delivery of Cotai real estate ongoing

Delivery of residential units in its property project located around the Pousada Marina Infante is in progress, a spokesperson of the Yoho Group clarified yesterday.

Information has previously come to light that the Yoho: Co-Tai Marina Bay integrated property development project faced certain difficulties in delivering its now-completed residential units.

At a press event yesterday, a spokesperson of the developer explained that there are some governmental procedures the project must undergo before being officially registered as a completed development.

The spokesperson stressed it is a regular procedure that all property developments must go through, adding that if there were problems, local banks would not have been confident in issuing mortgage plans.

Although the developer has not publicly responded to the matter of its previous troubles, explanatory notes have been sent to property buyers and owners.

Speaking at the retail space of the project, the spokesperson said that the company is offering incentives to tenants. If they can start operating their businesses before October 1 this year, they will enjoy two years of rental subsidy.

Highlighting the project as the only development on Cotai that can be individually registered, the spokesperson is confident in the attractiveness of the project, remarking that there will be tens of thousands of staff working in the area, in addition to the large number of tourists interested in travelling to Macau.

The spokesperson foresees that the project will offer even wider choices to tourists in Macau. AL