The land of the Macau Special Administrative Region (SAR) was expanded to 31.18 square kilometers in 2006 due to massive land reclamation projects, according to figures released by the Macau Statistics and Census Bureau (DSEC) 2006.
Statistics from the DSEC indicated that Macau's reclaimed land area, which includes the Macau Peninsula, the Taipa and Coloane islands, increased the total Macau land area by 11 percent in 2006.
The opening-up of the gaming market in 2002 and the implementation of the regional economic cooperation with members in the Pan-Pearl River Delta region in 2004 have boosted the local real estate market and given the government more incentives for land reclamation. Chief Executive of Macau SAR, Edmund Ho said that Macau's existing land area is far from sufficient for its sustainable development. As such, the Macau government has proposed an even larger reclamation project that will make more land available for Macau's development over the next 10-20 years.
The Macau government has executed its plan to reclaim a total of 380 hectares of land in 2006. Most of Macau's urban development clustered around the peninsula's centre is quite hilly. Nearly all of the land in Macau belongs to the Government and the land tenure, barring a few exceptions, is on a leasehold basis and classified into six categories by usage: agricultural, warehouse, commercial, residential, industrial and others.
The Macau Real Estate Report 2006, illustrates the Macau government's different land reclamation areas for urban development. The 105-hectare area to be created on the north east end of the Macau peninsula will connect the Perola district and offer apartments, leisure facilities, sports facilities, a shopping mall, parks and schools. The second zone in the Macau peninsula is a narrow strip stretching from Fisherman's Wharf to the old Macau-Taipa Bridge. It will provide large space for the expansion of Fisherman's Wharf, the proposed Science Museum and roads to support hotel developments nearby. The remaining three new zones located in the waters off the northern shore of Taipa include a 94-hectare area near the Macau International Airport. It is reserved for a cruise terminal, a 'high tech' zone (a concept still to be elaborated by the government), schools and public facilities. The largest area with 130 hectares will be in front of the Regency Hotel Macau reserved for residences, hotels and shops. The 54 hectare area in front of the Ocean Garden is reserved for "low density" housing according to the plans. Another zone would be formed along the shore of the Macau peninsula from near the Macau Tower to the Macau Cultural Centre.
"Investors are concerned that major town planning initiatives have been taken without informing the market in advance or undergoing some sort of consultation," said Peter Barge, Asia Pacific chief executive of the real estate services firm Jones Lang LaSalle.
Officials stressed that the two development zones in Taipa would take the form of man-made islands, meaning there will still be a stretch of water between the original waterfront and the reclamation areas. This is intended to disperse residents' worry about the sea view of their apartment being spoiled and their property devalued. The residents remained unconvinced.
Joe Chan, a home owner of the Ocean Garden in Taipa said that the project neglects the interests of residents who would end up with negative equity. "It is not just the sea view. The pollution of the infrastructure, the impact of the project on the water quality and the increased population will affect the residents' quality of life and henceforth the value of their properties. The government must stop its policy of ignoring the value of Macau land," Chan said. |