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Case Study

Selecting the best option for a prime development site at Penha Hill

The Penha Hill district, the most prestigious, luxury residential area in Macau, has long been the preferred home address of wealthy families and major officials. And with the scarcity of freehold land in the region, the 2,569-sqm site at Penha Hill is ideal for boutique hotel or residential development and a very valuable property in the market.

Jones Lang LaSalle was appointed as Sole Agent by the landlord, a Catholic organisation, to sell this prime development site. Having evaluated all the sales methods with the client, we finally recommended the sale of the property via private tender.

Owing to our extensive client database, we were able to short-list a group of prospective purchasers with the most potential after a thorough analysis of all local and international major developers and investors.

Living up to our reputation to deliver real value to our clients, we helped sell the site to a Taiwan-based investor for around HKD 110 million, which is higher than market expectations.

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