JLL facilitated the largest ever site transaction in Macau
JLL is pleased to announce the successful sale of the 5,597-sqm development site in Taipa, Macau. Breaking the record of transaction values of development sites in the city, the site has been sold for a total consideration of HK$3.51 billion.
Hong Kong and Macau, 14th December 2017 – JLL is pleased to announce the successful sale of the 5,597-sqm development site in Taipa, Macau. Breaking the record of transaction values of development sites in the city, the site has been sold for a total consideration of HK$3.51 billion. It is a piece of freehold land which is extremely rare and makes up only about 5% of the overall land supply in Macau.
Located at Lot TN20 and Lot TN24 near Avenida Dr Sun Yat-Sen in Taipa, Macau, the site is in close proximity to the three sea-crossing bridges that connect Macau Peninsula, Zhuhai and Hengqin. Well supported by comprehensive infrastructure as well as public and social amenities, the site is in the neighbourhood of some of the city’s most famous schools and colleges. Facing Taipa Grande Nature Park and surrounded by top-tier hotels and shopping arcades, the site commands a superb living environment.
Listed in Hong Kong, the purchaser Jiayuan International Group Limited is an established property developer with over 20 years’ experience in real estate development. It has developed a total of 21 large-scale residential complexes and 8 integrated commercial projects in different cities throughout China. The Group successfully entered in the Pearl River Delta region and expanded its geographic coverage to the major cities in Guangdong Province in 2016. With the acquisition of the two connected plots of land in Macau this year, Jiayuan International has extended its business footprint in the Guangdong-Hong Kong-Macau Bay Area.
Gregory Ku, Managing Director at JLL Macau, says, “The majority of properties in Macau were developed by local developers in the past. However, with the major infrastructure such as Hong Kong-Zhuhai-Macau Bridge and Guangzhou-Zhuhai Intercity Rail Extension entering its completion stage, and the Guangdong-Hong Kong-Macau Bay Area beginning to take shape, the developers in China have started to look for opportunities in the region. We are highly honoured to have the chance to facilitate this significant transaction for Jiayuan International, and expect the further improved infrastructure and policies in the future to bring new impetus to Macau’s property market.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com