Government announces quarterly land sale programme for October to December 2022
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The Secretary for Development, Ms Bernadette Linn, said that in the third quarter of 2022-23 the Government will sell by tender three residential sites in Kai Tak, Stanley and Kennedy Town. The total estimated flat yield is about 2 500 units.
The Government and the MTR Corporation Limited (MTRCL) have reached an agreement on September 23 regarding the in-situ land exchange of the Siu Ho Wan Depot Site and the proposed Oyster Bay Station. The MTRCL will put up Package 1 of the project in the coming quarter, providing around 1 400 flats. The Urban Renewal Authority also plans to tender its project on Queen's Road West/In Ku Lane, Sai Ying Pun, providing around 200 flats.
On private development and redevelopment projects, two projects are expected to have their lease modification processes completed in the third quarter, capable of producing about 1 800 units.
"Taking all sources of private housing land supply into account, the total private housing land supply in the third quarter would support the development of around 5 900 units. Together with the private residential land supply in the first two quarters, the total private housing land supply in the first three quarters of this financial year is expected to support some 11 900 units, exceeding 90 per cent of our annual target of private housing supply (12 900 units)," Ms Linn said.
As regards commercial land, the Government plans to put up for tender a site on Anderson Road, Kwun Tong, capable of providing around 10 250 square metres of gross floor area. Apart from that, the URA plans to tender its commercial project in Kwun Tong Town Centre, providing around 200 000 square metres of gross floor area.
She continued, "The global economic outlook is indeed full of challenges. Hong Kong is no exception, and the atmosphere of the local property market is relatively weak at the moment. The Government is keenly aware of the public expectation for us to increase and expedite land and housing supply. We also know too well that land resources remain an important capital for the future development of our society. We cannot afford to slow down our efforts in supplying land just because of the economic situation before us. We will continue to adopt a multi-pronged approach to increase land supply and sustain our efforts in providing land to support Hong Kong's development."
The list of the sites to be tendered in October to December 2022 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/Thursday, September 29, 2022
Issued at HKT 18:30
Issued at HKT 18:30
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