Macau government invests 1.4 billion patacas in economic housing project

26 June 2009

Macau, China, 26 June – The Macau government plans to invest 1.4 billion patacas (US$175 million) in an economic housing project with 2,703 units that is due for conclusion in 2011, officials said.

The Director of the Housing Institute, Chiang Coc Meng said Thursday, during the ceremony to lay the first stone of the housing complex that it was the first project entirely funded by the Macau government.

The project, which is being built by Companhia de Construção e Engenharia Omas, is made up of six towers with 46 and 48 floors each and 10 apartments per floor, according to a report from news agency MacauNews.

Chiang also said that a three-storey car park and other facilities such as supermarkets and garden would also be built.

Macau’s Secretary for Transport and Public Works, Lau Si Io, said during the ceremony tha by 2011 a further 500 housing units would be concluded in the border area.

The government announced this year that it planned to build 12,000 housing units by 2012.

Housing Institute statistics have shown that 6,000 families are on government waiting lists for economic housing. (macauhub)