The Waterside / One Central# Residences
Occupying the entire Tower Six in One Central Residences, The Waterside consists of 59 apartments including two duplexes and three simplexes. Unit sizes range from 2,270 square feet for a standard three-ensuite unit to 4,740 square feet for a duplex with balcony. Apartments feature exclusive interior designs and furnishings by award-winning Japanese designer Yasumichi Morita and are luxuriously appointed with top-of-the-range appliances.

One Central Residences is the most prestigious residential property project in Macau jointly developed by Hongkong Land and Shun Tak Holdings. MPO has acquired the whole of Tower 6 (marketed as The Waterside) and a number of other well-located residential units.
View Website:  www.thewatersidemacau.com
Total Commitment*US$138 million
Acquisition CostUS$138 million
Acquisition DateNovember 2006
Estimated Handover DateAugust 2009
Project TypeInvestment
 
LocationMacau Peninsula
SectorResidential (premium luxury)
Est. Gross Floor Area148,000 sq.ft. / 13,750 sq.m.
Current StatusLeasing
Underlying FundMPO
Rua do Laboratório^
MPO sold its Rua do Laboratório project - an entry level residential redevelopment property located in northern Macau Peninsula - to a local Macau developer in April 2011. The agreed sale price of US$41 million translates to a return on investment of 84% or net project internal rate of return of 15%.

The decision to dispose of Rua do Laboratório prior to the completion of its full development cycle was taken to unlock value and crystallise returns for its shareholders.
Total Commitment*US$50 million
Acquisition CostUS$20.6 million
Projected Development CostUS$29.4 million
Acquisition DateNovember 2006
Estimated Completion DateApril 2011
Project TypeRedevelopment
 
LocationMacau Peninsula
SectorResidential (entry-level)
Est. Gross Floor Area220,000 sq.ft. / 20,440 sq.m.
Current StatusExit
Underlying FundMPO
The Fountainside
This architecturally significant property, which is located in a popular residential neighbourhood, was acquired as a redevelopment site with a projected gross floor area of some 80,000 square feet. The creation of a low-rise apartment block with a distinctive colonial, Portuguese design will enhance the character of the surrounding area. Its style will appeal to middle/upper income locals seeking to upgrade to a quality living environment.
View Website:  www.fountainsidemacau.com
Total Commitment*US$20 million
Acquisition CostUS$8.6 million
Projected Development CostUS$11.4 million
Acquisition DateOctober 2006
Estimated Completion Date2012
Project TypeRedevelopment
 
LocationMacau Peninsula
SectorResidential (niche)
Est. Gross Floor Area80,000 sq.ft. / 7,430 sq.m.
Current StatusUnder construction
Underlying FundMPO
*Total Commitment = Acquisition cost & projected development cost 

#"One Central" is a trademark registered in Macau SAR under the name of Basecity Investments Limited. Sniper Capital Limited,
Macau Property Opportunities Fund Limited, MPOF Macau (Site 5) Limited and "The Waterside" are not associated with Basecity Investments
Limited, Shun Tak Holdings Limited or Hongkong Land Holdings Limited.

^MPO has entered into an agreement with a local Macau developer in February 2011 to sell its Rua do Laboratório project for US$41 million