The Government announced today (December 30) the quarterly land sale programme for the fourth quarter of 2022-23, i.e. January to March 2023.
The Secretary for Development, Ms Bernadette Linn, said in the fourth quarter of 2022-23, the Government will sell by tender a residential site in Tsuen Wan with an estimated flat yield of about 490 units.
On private development and redevelopment projects, eight projects are expected to have their lease modification processes completed in the fourth quarter, capable of producing about 2 630 units.
"Taking all sources of private housing land supply into account, the total private housing land supply in the fourth quarter would support the development of around 3 120 units. Together with the land supply in the first three quarters, the total private housing land supply of this financial year is expected to support some 16 070 units, exceeding the annual target (12 900 units) set for this year by about 25 per cent," Ms Linn said.
As regards commercial land, the Government plans to put up for tender a site at the Junction of Sai Yee Street and Argyle Street, Mong Kok, capable of providing around 141 600 square metres of gross floor area.
Ms Linn said that the Government will continue to adopt a multi-pronged approach to increase land supply and sustain its efforts in providing a continuous and steady land supply to the market for development.
The list of the sites to be tendered in January to March 2023 is in the Annex. The actual tender timetable will be drawn up taking into account the progress of necessary preparatory work. The Lands Department will announce the detailed land sale arrangements before individual sites are put up for tender.
Ends/Friday, December 30, 2022
Issued at HKT 19:24