LONDON (Alliance News) - Macau Property Opportunities Fund Ltd Wednesday said it has received vacant possession of its recently acquired residential property, a luxury private house in the Penha Hill area of Macau.
The closed-ended investment fund said it has made a final payment to the sell of HKD15.8 million, equivalent to USD2.04 million or 10% of the gross purchase price.
In December, the company said that it had made a second payment on the property of HKD63.2 million to the seller, and would pay the remainder of the consideration when it received vacant possession of the property.
The company plans to combine the new property with The Green House, an adjoining residence it already owns, to create a single detached residence.
Macau shares were trading 1.2% lower Wednesday morning at 207.25 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Macau Property (MPO)