Hengqin New Area in South China's Guangdong Province is expected to provide 3,800 flats with favorable prices exclusively for citizens of Macao Special Administration Region, according to press conference of Hengqin local government on Monday.
A total of 180,000 square meters of land are reserved for the project, and the price of the flat is expected to be set lower than the real estate in neighboring area. Applicants, including for second hand flats in the projects are limited to citizens from Macao only, but more specific selection standards are to be determined by authorities from Macao SAR.
Public services in the project will also be provided by organizations designated by the Macao SAR, including the education system from preschools to elementary schools, as well as health care institutions such as community clinics and nursing houses for the senior.
Hengqin is located adjacent to Macao SAR and is one of the three pilot free trade zones in Guangdong. Since the establishment of the Hengqin free trade zone in 2015, it has become a regional hub for business cooperation between the Chinese mainland and Macao. A total of 2,157 companies from Macao have registered in Hengqin so far, compared to only five, 10 years ago.