Opening remarks by SDEV on quarterly land sale programme for October to December 2023 (with video)

     Following are the opening remarks by the Secretary for Development, Ms Bernadette Linn, at a media session today (October 4) on the quarterly land sale programme for October to December 2023:
     Today I will introduce the Government's Land Sale Programme and land supply from other sources in the third quarter of this financial year, that is October to December.
     The Government will put up for tender a residential site at Cheung Sha on Lantau Island in this quarter, providing a supply of about 110 flats.   
     The MTR Corporation Limited (MTR) and the Urban Renewal Authority (URA) will also roll out projects in this quarter. The MTR will put up for tender Package 1 of Tung Chung East Station, which is expected to provide around 1 200 flats. The URA plans to put up two development projects respectively in Kai Tak Road / Sa Po Road and Shing Tak Street / Ma Tau Chung Road, together providing around 1 450 flats in total.
     In addition, seven private development projects are expected to complete their lease modifications in this quarter, providing a supply of about 440 flats. 
     So taking all the above sources together, the total private housing land supply for the third quarter would support the development of around 3 200 flats.
     Together with the supply from the first half of this financial year, the total supply from the first to third quarter is expected to support some 10 150 flats, reaching around 80 per cent of our annual target for private housing supply (12 900 flats). The total supply so far has not completely reflected the supply from private development projects not requiring lease modification, as such figures are only available at a later stage, if we are talking about the source from the third quarter. We are overall optimistic that we would be able to achieve the private housing land supply target for the year.
     For the third quarter, we will not be rolling out any commercial site for sale.
     In overall terms, the Government will continue to adopt a multipronged approach to increase land supply and sustain our efforts in providing a continuous and steady land supply to the market for development.
Ends/Wednesday, October 4, 2023
Issued at HKT 18:46

Audio / Video