Government announces quarterly land sale programme for October to December 2017
The Government announced today (September 29) the quarterly land sale programme for the third quarter of 2017-18, i.e. October to December 2017.
"In the third quarter of 2017-18, the Government will sell by tender three residential sites in Kwun Tong, Sheung Shui and Kowloon Tong, capable of providing about 1,090 flats in total.
"The MTR Corporation Limited (MTRCL) is also planning to tender in the same quarter Package 2 of the Wong Chuk Hang Station property development project, which is estimated to provide about 600 flats, while the Urban Renewal Authority (URA) plans to tender a development project in Mong Kok, which is capable of providing about 190 flats," the Secretary for Development, Mr Michael Wong, said.
In 2017-18, the Government aims at providing land capable of producing about 18,000 private residential flats.
Mr Wong reviewed the private housing land supply situation in the first half of 2017-18. The Government has put up three residential sites for sale in each of the first two quarters, capable of providing about 3,140 flats in total. The supply from private development and redevelopment projects was strong during the period, with an estimated capacity to provide about 13,020 flats.
In addition, in the past two quarters, the MTRCL and the URA have each tendered one property development project, capable of providing about 2,100 flats in total.
"Combining the above, the private housing land supply in the first half of 2017-18 has a total capacity to provide about 18,260 flats, meeting this year's supply target of 18,000 flats. In the remaining two quarters of this financial year, the Government will continue to put up sites for sale to ensure a steady, sustained land supply," he said.
On land supply for economic uses, Mr Wong noted that the Government plans to put up an industrial site in Tsuen Wan for sale in the next quarter.
"This industrial site is capable of providing about 18,700 square metres of gross floor area. It can be developed for modern industrial use including information technology and telecommunications, audio-visual recording studios, design and media production," he said.
In line with past practice, subject to market conditions as well as other practical considerations such as the progress of required preparatory work, the Government may make adjustments to the quarterly land sale programme or put up additional sites for sale during the course of a quarter if circumstances warrant.
"The Government will continue to do its utmost using a multi-pronged approach to increase land supply in the short, medium and long terms to cater for the community's housing, social and economic development needs," Mr Wong added.
The list of the sites to be tendered in October to December 2017 is attached. The actual tender timetable will be drawn up taking into account the progress of necessary preparatory work. The Lands Department will separately announce the detailed land sale arrangements before individual sites are tendered.
Ends/Friday, September 29, 2017
Issued at HKT 19:13