Home | Macau | Gov’t takes back unused plots

Gov’t takes back unused plots

31/08/2011 20:45:00
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Authorities have taken back two land plots in downtown Macau that remained undeveloped for almost two decades.
A dispatch signed by secretary for Transport and Public Works, Lau Si Io, terminates a 1992 concession that had granted Sociedade de Investimento Imobiliário Lun Tát two plots, a total area of 168 square metres at Travessa do Comandante Mata e Oliveira, near Clube Militar.
The decision, published in yesterday’s edition of the Official Gazette, means the company will forfeit a land premium of MOP 10.5 million.
But Lun Tát will still be permitted to keep a larger neighbouring plot of 569 square metres, which the Portuguese Administration sold to the company in 1990.

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