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The Government announced today (June 29) the quarterly land sale programme for the second quarter of 2016-17, i.e. July to September 2016.
"The private housing land supply in the second quarter of 2016-17, from government land sales and a project of the Urban Renewal Authority (URA), is estimated to have a capacity to produce about 4,840 flats in total," the Secretary for Development, Mr Paul Chan, said.
In the second quarter of 2016-17, the Government will sell by tender seven residential sites, which have a total capacity to produce about 4,760 flats. These seven sites are one each in Yuen Long, Beacon Hill, Sha Tin, Kai Tak and Kwun Tong, and two in Tuen Mun. Of the two Tuen Mun sites, the one at Tsing Ha Lane, Area 20, Tuen Mun, was included in the quarterly land sale programme for the fourth quarter of the last financial year. Its tendering was deferred to the next quarter due to technical issues.
The URA will invite tenders for its Kowloon Road/Kiu Yam Street project in Sham Shui Po in the coming quarter. The project has a capacity to provide about 80 flats.
As for railway property development projects, they will be put up for tender in the third quarter as planned.
Mr Chan reviewed the private housing land supply situation in the first half of 2016-17. The private housing land supply in the first quarter of 2016-17, from seven residential sites put up for sale by the Government and the URA's project at Pine Street/Oak Street, Tai Kok Tsui, has a capacity to provide about 4,740 flats in total. Together with the sites in the second quarter mentioned above, the private housing land supply from 16 sites in the first half of 2016-17 has a capacity to provide around 9,580 flats, without counting private development and redevelopment projects in the same period. The private housing land supply target for the whole financial year of 2016-17 is 18,000 flats, which means 9,000 flats for the first half of the year. As such, the private housing land supply in the first two quarters of 2016-17 is estimated to exceed the target by about 6.5 per cent or more.
In the second quarter of 2016-17, a commercial site in Kai Tak and a business site in Wong Chuk Hang, which have a total capacity to provide about 128,000 square metres of gross floor area, will be tendered to meet the keen market demand for commercial/business sites.
The commercial site in Kai Tak is capable of providing over 100,000 square metres of gross floor area. This site is located in the eastern side of Kai Tak City Centre near the proposed Shatin to Central Link Kai Tak Station. An iconic twin-tower development is planned at this site so as to anchor the vista towards the Station Square.
Subject to market conditions as well as the progress of rezoning and other work, the Government may put up additional sites for sale within the second quarter of 2016-17.
Mr Chan also reviewed the out-turn of the annual private housing land supply situation in 2015-16. "After adjustment by discounting the Tsing Ha Lane site mentioned above, the aggregate private housing land supply in 2015-16 had an estimated capacity to produce about 19,870 flats, still exceeding the land supply target of 19,000 flats set for that year. This is also the second highest since the Government introduced the private housing land supply target in 2010. The Government has exceeded the supply target for two consecutive years," Mr Chan said.
"The Government will closely monitor the market situation and spare no efforts in identifying other sites suitable for development. Our objective is to ensure a steady, sustained land supply to the market to cater for the community's land demand for private housing and other uses," Mr Chan concluded.
The list of the sites to be tendered in July to September 2016 is attached. The Lands Department will separately announce the detailed land sale arrangements before individual sites are tendered.
Ends/Wednesday, June 29, 2016
Issued at HKT 18:25
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