Revenue from land premiums flows freely

2013-7-5

From：Macau Business

The government is taking record revenue from land grants now it has approved new casino resort developments in Cotai.

Our sister publication Business Daily reports the Financial Services Bureau as saying the government received MOP461.1 million (US$57.7 million) in income from property in the first three months of this year.

This is twice as much as in the first quarter of last year.

The growth “is due to the increase in land concession premium collected during the period”, the bureau said.

The government finished last year with MOP3.15 billion in land premium revenue.

If growth continues at the same rate as in the first quarter, this year’s revenue will break the record of MOP3.54 billion set in 2011.

Copyright@Macau Business