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Government announces quarterly land sale programme for July to September 2014

The Government announced today (June 30) that it will sell by tender four residential sites and one hotel site in the second quarter (i.e. July to September 2014) of this financial year, which are capable of producing about 2,100 flats and about 1,100 hotel rooms respectively.

The four residential sites to be put up for sale in the next quarter are located in Lei Yue Mun, Tuen Mun, Fanling and Pak Shek Kok.

"The first tendering of the Pak Shek Kok site was unsuccessful in March 2014. We have included it in the 2014-15 Land Sale Programme and will put it up for sale again in the next quarter," the Secretary for Development, Mr Paul Chan, said.

To better ensure the quantity of flat supply, the Government will require developers to provide a specified minimum number of flats at each of the three sites in Lei Yue Mun, Tuen Mun and Fanling, which together will produce about 1,300 flats. The Lands Department (LandsD) will announce the details before these sites are tendered.

Other than the Government's Land Sale Programme, railway property development projects are an important source of private housing land supply. In this connection, the MTR Corporation Limited (MTRCL) is actively planning to tender its project at Tai Wai Station in the same quarter (i.e. July to September 2014), which is estimated to provide about 2,900 flats.

If the Tai Wai Station project is re-tendered as planned, coupled with the four residential sites to be put up for sale by the Government, in the second quarter of 2014-15 these five sites are capable of providing about 5,000 residential flats in total.

In the first quarter of 2014-15 (i.e. April to June 2014), the six sites announced for sale by the Government and the Kwun Tong Town Centre project (Development Areas 2 and 3) for which the Urban Renewal Authority is inviting tenders are capable of producing about 3,200 flats in total. In other words, the residential sites announced for sale by the Government in the first two quarters of 2014-15, together with the projects of the Urban Renewal Authority and the MTRCL, are capable of producing about 8,200 private residential flats in total.

On the other hand, subsequent to the successful tendering of a project at LOHAS Park in April 2014 capable of producing about 1,600 flats, the MTRCL also plans to tender other projects at LOHAS Park in Area 86 of Tseung Kwan O in 2014-15.

In addition to residential sites, one hotel site in Tung Chung will also be tendered in the next quarter to meet the demand for hotel rooms.

"The Government will continue to closely monitor the market situation and steadily supply housing land for the healthy development of the property market," Mr Chan said.

The list of the sites to be tendered in July to September 2014 is attached. LandsD will separately announce the detailed land sale arrangements before individual sites are tendered.


Ends/Monday, June 30, 2014
Issued at HKT 18:09

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