Transcript of remarks by SDEV on quarterly land sale programme for July to September 2023 (with video)
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Reporter: I would like to follow up on the tendering conditions for the Kai Tak site. Do you think that these conditions will make the site less attractive for bidders? Will high financing cost and also high interest rates deter bidders and developers from the tendering process?
Secretary for Development: First of all, I think the inclusion of gross floor area for certain community facilities is actually a good move to make good use of the private land available to deliver some facilities of urgent needs in the community. As to whether that will dampen the price to be put forward by the tenderer, I think as with all land sale cases, the tenderer will have to take into account all conditions in the lease including, for example, the building covenant period, the floor area allowed and its obligation to deliver certain gross floor area for the Government. So all these will be taken into account, both by the tenderer and by the Lands Department when the reserve price is set. So I am not too worried that the inclusion of these conditions will actually affect the prospect of the site being successfully tendered. It is a matter of pricing.
Reporter: Can you recap in English on whether the Government will take further action on Leighton? Do you think that the ruling sent a strong enough signal to developers?
Secretary for Development: On the Shatin to Central Link incident, the Government issued press statements yesterday and made it very clear that there is ongoing criminal investigation by the Police, so I hope that members of the public and the media will understand that when we talk about criminal investigations and any possible subsequent prosecutions, we are talking about very serious and meticulous processes, so it is really not appropriate for the Government to further comment on such investigations and disclose further details. As regards the particular investigation case being taken forward by the Buildings Department and has reached the court with judgement laid down, the Buildings Department as the enforcement authority has already issued a press statement explaining its position including the fact that it is now considering the possibility of an appeal in consultation with the legal advisors.
(Please also refer to the Chinese portion of the transcript.)
Ends/Thursday, June 29, 2023
Issued at HKT 19:58
Issued at HKT 19:58
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Audio / Video
SDEV meets the media