LONDON (Alliance News) - Macau Property Opportunities Fund Ltd on Thursday said that occupancy at luxury residential investment The Waterside staged a slight recovery in the fourth quarter of 2015.
Managed by Asia-based property investment manager Sniper Capital Ltd, the closed-end investment fund invests in residential and retail property in Macau, and said occupancy at The Waterside improved to 39% on December 31 from about 35% on September 30. "Ongoing marketing efforts led to an increase in the number of leasing enquiries and viewings," the fund said.
Low-density residence The Fountainside has seen the continuation of a sales campaign. "Potential buyers are holding back on their purchasing decision until the economy shows signs of improvement," the fund said. A total of 27 out of 42 units have been sold to-date at The Fountainside, providing a total income of HKD202.6 million.
The fund expects to submit a detailed planning application for Senado Square in the third quarter of 2016.
As for Estrãda da Penha, the update said an architect was "engaged to produce detailed layout plans for the combined property, along with internal renderings to showcase its full potential".
Shares in Macau Property Opportunities Fund were down 2.7% at 145.00 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Macau Property (MPO)