Opening remarks by SDEV on land sale programme for January to March 2018

Following is the transcript of the opening remarks by the Secretary for Development, Mr Michael Wong, at a media session today (December 18) on the land sale programme for January to March 2018:

In the fourth quarter of 2017-18, the Government will sell by tender two residential sites, one each in Kai Tak and Tsing Yi, capable of providing about 1 600 flats in total.

For the financial year as a whole, altogether 11 residential sites have been sold or will be put up for sale. They have a capacity to produce about 5 800 flats in total.

As regards the MTR Corporation Limited, it has in the year successfully tendered two railway property development projects, one each in West Rail Kam Sheung Road Station and Wong Chuk Hang Station, capable of producing about 2 600 flats in total. The Urban Renewal Authority (URA) has awarded the tender of the Tai Kok Tsui project, and will award the tender of the Mong Kok project shortly. These two URA projects can provide about 280 flats. Private development and redevelopment projects in the year will provide about 15 600 flats. Counting all sources, they will have a total capacity of producing about 24 300 flats, exceeding the supply target of 18 000 flats by 6 300 units.

On commercial land supply, one business site and one hotel site in Cheung Sha Wan, and one industrial site in Tsuen Wan have been sold or put up for sale in the financial year. These three sites can provide about 53 200 square metres of GFA (gross floor area) and 550 rooms in total.

Ladies and gentlemen, the Government will continue to identify additional suitable sites for development to cater for the community's needs for private housing and space for economic uses.

Thank you very much.

Ends/Monday, December 18, 2017
Issued at HKT 18:50