Macau: British company buys apartment building in Macau

12 June 2008

London, United Kingdom, 12 June – British-owned company Speymill Macau Property Co. said Wednesday in London it had closed a deal worth US$132 million to fund development of a residential building in the southwest of the Macau peninsula.

In a filing with the Alternative Investment Market (AIM) of teh London Stock Exchange (LSE), the company said it had agreed to buy 259 units of the project being developed by group Companhia de Construcão e Investimento Ho Chun Kei.

Also according to the filing, 30 percent of the US$132 million will be paid immediately and the remainder will be handed over after the building is finished, which is scheduled for 2010.

Companhia de Construcão e Investimento Ho Chun Kei is a group with interests as diverse as real estate construction and management and advertising, restaurants and entertainment.

The Speymill Macau Property Company plc is a company set up on the Isle of Man to invest in the high quality real estate market in Macau. (macauhub)