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Information from the Statistics and Census Service (DSEC) indicated that purchase and sale of property decreased significantly in the third quarter of 2011 on account of the measures introduced by the Government to curb the soaring property prices. As per Stamp Duty record, a total of 3,738 building units were purchased and sold at MOP9.62 billion in the third quarter, down by 71.1% and 75.2% respectively quarter-to-quarter. There were 2,194 residential units purchased and sold at MOP5.92 billion, down by 73.4% and 82.2% respectively over the previous quarter. Analyzed by year of completion of the building, 696 residential units purchased and sold were completed in 2000 and after, 868 units in 1990-1999 and 630 units in 1989 and before. As regards floor area of the unit, the majority (1,012) had an area of 50 to 99.9 square metres (46.1% of total). The average transaction price of all residential units amounted to MOP36,345 per square metre of usable area, down by 17.9% quarter-to-quarter. The average price of those in the Macao Peninsula (MOP35,416), Taipa (MOP38,162) and Coloane (MOP61,893) decreased by 16.3%, 10.1% and 11.7% respectively quarter-to-quarter. The average price of residential units with an area of 100 to 149.9 square metres decreased by 19.8% quarter-to-quarter to MOP41,210 per square metre, those having 50 to 99.9 square metres decreased by 17.5% to MOP35,778 per square metre. In addition, the average price of office units decreased by 7.1% quarter-to-quarter to MOP34,011 per square metre; however, the average price of industrial units increased by 25.1% to MOP14,678 per square metre. In the third quarter of 2011, a total of 2,262 cases of real estate sale and purchase contracts were made, down by 35.8% quarter-to-quarter, and the number of units dropped by 29.5% to 3,032. Moreover, there were 1,884 cases of residential mortgage contracts signed, a decrease of 24.4% quarter-to-quarter. In the third quarter of 2011, gross floor area of buildings completed stood at 18,066 square metres, altogether providing 122 units (107 are residential units), 73 parking spaces for cars and 38 parking spaces for motorcycles.
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It's all systems go for the start of the 58th Macau Grand Prix, which gets underway tomorrow with the first of four days of non-stop action. FIA officials, accompanied by members of the Macau Grand Prix Committee, this morning carried out the final inspection of the 6.2km Guia street circuit, and gave the green light for the event to get under way. Away from the track, race officials attended a final briefing to put the finishing touches to the myriad arrangements which are involved in the meticulous planning of this unique nine-race event. With a stellar line-up of the world's best single seater, touring and sports car drivers, and exciting road racing motorcyclists, substantial media coverage is expected from the more than 1,000 reporters, photographers and broadcasters who have been accredited to cover the event. Live satellite broadcasts will bring all the high-octane thrills and spills to countless millions across the globe. While organisers to continue to upgrade the event each year, this time Reservoir and Grandstand ticket holders won't miss a second of the action with more TV screens added in the general areas. As the sun rises on the Macau SAR on Thursday morning, the city will be perfectly prepared for a memorable four-day spectacular.
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Japan Formula 3 champion Yuhi Sekiguchi will compete in the "SJM" Formula 3 Macau Grand Prix, bolstering an already-strong grid, which also includes the champions of the F3 Euro Series, British Formula 3 and ATS Formel 3 Cup. The 23-year-old is a last-minute replacement for Macau driver Michael Ho, who injured his wrist while at the gym. Sekiguchi joins the Mücke Motorsport squad alongside Sweden's Felix Rosenqvist for the highly anticipated Grand Prix, which is also the FIA Formula 3 Intercontinental Cup and the season finale for the inaugural FIA Formula 3 International Trophy. Sekiguchi, who won six races in his championship campaign this season, made his Formula 3 Macau Grand Prix debut in 2010, where he finished 20th. Practice for tomorrow's "SJM" Formula 3 Macau Grand Prix begins at 11:00 am.
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Drivers and riders pose for photographs in front of the famous Ruins of St. Paul's, part of the UNESCO World Heritage Site, the Historic Centre of Macau, ahead of this week's 58th Macau Grand Prix – Official Sponsor "SJM". Drivers from the "SJM" Formula 3 Macau Grand Prix and the FIA World Touring Car Championship – Guia Race of Macau – Presented by "SJM", and riders from the City of Dreams Macau Motorcycle Grand Prix – 45th Edition gathered on the steps of one of Macau's most recognizable landmarks to celebrate this year's Grand Prix. Following the photo session, the competitors headed to the Macau Grand Prix Museum for an autograph session with some of the Grand Prix's youngest fans. The local children, from the Chinese and Portuguese schools in Macau, happily posed for photographs with the competitors, with the annual meet-and-greet popular with both fans and the media. Preparations for this year's event, which involve many different Government departments and organizations, are now complete, and Macau is ready to host the 58th running of one of the world's most eagerly-anticipated sporting events.
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The Macao International Environmental Co-operation Forum & Exhibition (MIECF), an initiative by the Macao government, is contributing to China's efforts to achieve specific objectives for a low carbon society, as well as to raise public awareness and improve conditions for humanity. From its launch in 2008 through to 2011, MIECF has grown from strength to strength and regarded as a success by delegates, exhibitors and the international community. Now, MIECF returns for its fifth edition in 2012 from March 29 to March 31, at the Venetian Macao-Resort-Hotel. As the 2012MIECF Event Manager, Koelnmesse Pte Ltd is inviting interested service providers to participate in the second phase of Call for Tender, for appointment of service contracts. The range of services being tendered for are: Manpower services (Assist in booth operation and interpretation)
Promotion services
Conference and Green Public Day Operator
Networking Event Operator Interested parties are welcome to submit their tenders. Submission deadline is 1 December 2011. Full information on the tender procedures and specifications can be obtained form the website at www.macaomiecf.com.
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The Cultural Affairs Bureau of the Macao S.A.R. Government presents a photographic exhibition titled European Splendour: Photo Exhibition of UNESCO World Heritage Sites in European Union Member States. The exhibition, to be installed in the Mount Fortress Corridor, opens on 26 November 2011.
Featuring 42 extraordinary images of heritage sites in 14 European Union member states, the exhibition portrays various historic centres, natural sites and architectural treasures, including the City of Graz – Historic Centre, the Historic Centre of Prague, Old Rauma, La Grand-Place in Brussels, the Pilgrimage Church in Wies, the Archaeological Site of Delphi, the Cathedral of Santiago de Compostela, Mont-Saint-Michel and its Bay, Venice and its Lagoon, the Amsterdam Canal Houses, the Wieliczka Salt Mine, the Cultural Landscape of Sintra, the Rock Carvings in Tanum and Stonehenge, Avebury and Associated Sites.
The Consulates General of the European Union Member States in Hong Kong and Macao decided to share these images of their prestigious heritage sites with the public in Hong Kong and Macao. Organised during the Polish Presidency of the Council of the European Union, the exhibition is a result of joint effort and co-operation between the EU and the Cultural Affairs Bureau of the Macao S.A.R. Government.
This event provides a wonderful opportunity to appreciate the grandeur of the sites protected as cultural heritage in Europe. The exhibition runs from 26 November 2011 to 29 January 2012, in the Mount Fortress Corridor of Macao, and is open daily from 7am to 7pm. Admission is free.
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The Chief Executive, Mr Chui Sai On, said the Government would study whether to revise the Annex I and II of the Basic Law, which laid out the method for the selection of the Chief Executive and the formation of the Legislative Assembly. Speaking at a press conference after delivering the Policy Address for the Fiscal Year 2012, Mr Chui said the Government had been gathering opinion from the public over the issue of development of political system. Since the establishment of the Third-term Macao SAR Government, it had received 164 written responses from the public, he said. On the whole, most of the opinions gathered expressed the wish to make adequate adjustments to the elections of the Chief Executive in 2013 and the Legislative Assembly in 2014, he said. He said the Government would conduct public consultations to continue to gather opinion and stressed that the Government had no preference in the revision of the methods of the two elections. He would soon write to the Standing Committee of the National People's Congress to confirm the necessary procedures. Mr Chui said the Government would step up relevant studies of Macao's middle class to take into account their concerns when formulating public policies. Speaking on the issue of housing, Mr Chui said the Government would complete the constructions of 19,000 public housing units by the year-end of 2012, begin the planning of a reserve of 6,300 public housing units and waive the rent of public housing tenants for next year. He said the Government had reserved enough land for public housing and urged the public to be patient and have confidence in the Government. Though the Government expected the monthly gaming revenue next year to exceed 20 billion patacas, it would take a cautious approach in managing public finance. He also said that the Government would continue the renewal of urban areas in order to enhance the standard of the environment and hygiene of the older districts. As for the revision of the salary system of civil servants, Mr Chui said he had met many civil servants' associations recently to listen to their opinions. The Government would study the establishment of Civil Service Pay Council, to allow for a fair, independent and scientific pay adjustment mechanism for civil servants.
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Raising the living standards of Macao residents is top of the Government's agenda in the coming year, according to the Chief Executive Mr Chui Sai On in his third annual Policy Address presented to lawmakers this afternoon. Mr Chui unveiled a string of measures to fight rising inflation in his 2012 Policy Address, including a further injection of 6,000 patacas into the individual central savings account of each eligible Macao citizen and a cash handout of 7,000 patacas to all Macao permanent residents. Non-permanent residents would get 4,200 patacas. The Government will also look at the feasibility of injecting money into the Social Security Fund. For senior citizens, the Old-age Allowance will be increased to 6,000 patacas while the monthly pension will be raised to 2,000 patacas. This means that in the coming year, each senior citizen will receive a total of 45,000 patacas from the Government. The Government will draw up a population policy based on detailed studies to tackle Macao's aging population, said the Chief Executive. Past initiatives to help low-income families, such as rent waiver for public housing tenants and housing subsidies for families waiting for public housing, would continue in 2012. Meanwhile the minimum subsistence index and the financial allowance for low-income, full-time employees will be raised to 3,200 patacas and 4,400 patacas respectively. Business owners and employees will continue to enjoy tax cuts and waivers outlined in the previous policy address. To further support small businesses, the upper loan limit of the SME Assistance Scheme will be increased to 600,000 patacas. On the "Homes for All" policy, the Chief Executive promised to relax the income ceiling of Home-Ownership Scheme Housing applicants, which would make 80 percent of Macao households qualify for the scheme. He also told lawmakers that the Government would plan a reserve of 6,300 public housing units in addition to the 19,000 public housing units to be completed by the end of 2012. Mr Chui addressed the issue of sustainable economic development by pledging to facilitate the growth of integrated tourism and boost regional co-operation. An assessment committee for Macao investments in Hengqin Island will be set up to help Macao enterprises establish operations in the Guangdong-Macao Industrial Park. Reviewing Macao's political development will be another major task of the government in 2012, he said. The Government will launch a public consultation next year on whether to modify and – if so how to modify – the method for the formation of the fifth Legislative Assembly in 2013, and the selection of the fourth Chief Executive in 2014, in accordance with the Basic Law of Macao. Mr Chui added that electoral laws would be perfected to promote fairness and justice in all elections, to drive development of Macao's political system.
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A team of staff of the Monetary Authority of Macao (AMCM) will go to Beijing to discuss with the People's Bank of China (PBOC) about further widening of the scope of RMB business and promoting Macao to become a RMB settlement platform in respect of trade and other economic activities between China and Portuguese speaking countries. In addition, the issue of injecting RMB denominated assets into the fiscal reserve of the MSAR with a view to securing stable investment return will also be raised. In mid-October, AMCM organized a delegation of our financial sector and visited Beijing and Shanghai. It raised relevant proposals to the Central Government and supervisory authroities concerned regarding further widening the scope of RMB business, promoting Macao to become a RMB settlement platform in respect of trade and other economic activities between China and Portuguese speaking countries, as well as the arrangement to facilitate the MSAR fiscal reserve to invest in RMB denominated assets. All these discussions had positive response and support from the authorities. The PBOC indicated its fervent support to Macao in widening the scope of RMB business in accordance with market demand with a view to promoting the development of RMB business in Macao in a stable and orderly manner. In addition, the PBOC supported Macao to become a RMB settlement platform in respect of trade and other economic activities between China and Portuguese speaking countries, which would further promote its function as financial platform for trade and economic activities between China and Portuguese speaking countries. In regard to the issue of investment in Mainland bonds or deposits, the PBOC did not see any obstacles arising from existing policies, and would satisfy relevant requests in steps. Both sides were in agreement on the need to conduct further discussions relating to the practical operation, including amendments to settlement agreement so as to facilitate its early implementation. AMCM disclosed that a bilateral meeting would be convened on the 16th of November. AMCM staff members, led by Mr. Wan Sin Long, Executive Director, accompanied by representatives of the Economic Affairs Department of the Central Liaison Office, the Guangzhou Regional Branch of the PBOC and Bank of China, Macau Branch, will conduct discussions on detailed arrangements relating to aforementioned issues with a view to implementating the relevant arrangements at an earlier date. Mr. Teng Lin Seng, AMCM Chairman, has indicated that, in accordance with market development and requests raised by the practitioners, AMCM has been, in recent years, endeavouring assiduously to obtain policy support in widening the spectrum of RMB business in Macao, as well as enabling Macao to develop into a settlement platform for RMB business with Portuguese speaking countries. In addition, as for introducing an investment channel for secure and stable return on the impending MSAR fiscal reserve, AMCM has suggested to the PBOC to allow the MSAR fiscal reserve to invest in inter-bank bond and money markets. He hopes that through all these practical discussions, implementation of relevant arrangements can be realized at an earlier date.
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Information from the Statistics and Census Service indicated that visitor arrivals in package tours soared by 60.6% year-on-year to 597,903 in September 2011. Visitors from Mainland China (422,292); Taiwan, China (45,138); Hong Kong (32,106) and the Republic of Korea (26,206) surged by 88.9%, 54.7%, 38.7% and 78.7% respectively. On the contrary, visitors from Japan (19,085) decreased by 31.7%. In the first three quarters of 2011, visitor arrivals in package tours increased by 16.8% year-on-year to 5,107,265. In September 2011, Macao residents travelling outbound in package tours decreased by 25.2% year-on-year to 15,031. The most popular tour itineraries were Mainland China (76.3% of total), Thailand (5.4%) and the Republic of Korea (5.1%). In the first three quarters of 2011, outbound residents in package tours decreased by 5.4% year-on-year to 176,666. Meanwhile, outbound residents travelling under own arrangements using services of travel agencies surged by 35.9% year-on-year to 60,979; the main destinations were Mainland China (54.3% of total); Hong Kong (16.3%); and Taiwan, China (13.7%). In the first three quarters of 2011, outbound residents travelling under such arrangements increased by 27.8% year-on-year to 463,205. At the end of September 2011, number of available guest rooms of hotels and guest-houses totalled 22,407, up by 2,561 rooms (+12.9%) year-on-year, with that of 5-star hotels accounting for 63.8% of the total. Hotels and guest-houses received 701,708 guests in September 2011, up by 19.1% year-on-year, with the majority coming from Mainland China (54.1% of total) and Hong Kong (19.0%). The average length of stay decreased by 0.04 night to 1.5 nights. The average occupancy rate of hotels and guest-houses was 79.7%, up by 5.6 percentage points year-on-year. Average occupancy rate of hotels was 80.2%, with 4-star hotels leading at 85.3%. Number of guests increased by 9.7% year-on-year to 6,297,229 in the first three quarters of 2011; average occupancy rate of hotels and guest-houses stood at 83.2%, up by 4.5 percentage points from a year earlier. In the first three quarters of 2011, visitor-guests accounted for 61.5% of the total number of tourists (overnight visitors), higher than 60.5% in the same period of 2010.
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