Opportunity for property fund on Macau growth surge
Macau Property Opportunities Fund (MPO) has laid out several reasons in its fourth quarter update as to why it could enjoy a prosperous year in 2018.
Average rentals have grown by 6.4% quarter-on-quarter to HK$19.95 per square foot per month at The Waterside, one of the few waterfront living residential developments in Macau.
Occupancy for the property stood at 59%. The fund is hopeful that Macau’s VIP gaming segment will continue to recover and boost rental values and occupancy rates.
Last October, the International Monetary Fund revised the GDP growth rate for Macau from 2.8% to a whopping 13.4% for 2017.