Government site supply in 3Q15

Government site supply in 3Q15

The Development Bureau has announced the Land Sale Programme for the upcoming quarter.

The government will supply sites that could build 5,100 units, which is roughly a quarter of its annual 19,000-unit target.

The majority of the supply is to come from West Rail Yuen Long Station (1,880 units) and Lohas Park Package 8 (1,430 units).

Interestingly, the government also said that it may add more sites in the Land Sale Programme during the quarter, differing from its usual practice of adding them at the quarterly announcement.

The Secretary for Development announced on 29 June the upcoming quarter’s Land Sale Programme.

For Jul-Sep 2015, the government plans to mainly supply sites from railway station development rights. It plans to tender the development rights for West Rail Yuen Long Station (1,880 units) and Lohas Park Package 8 (1,430 units).

Through the public land tenders, it expects to supply three sites in Pak Shek Kok, Tuen Mun and Tsing Yi,
respectively, which would altogether supply 1,650 units. The Urban Renewal Authority will also launch the Sai Wan Ho project, which should supply 120 extra units.

The 5,100 units to be supplied in CY3Q15 are roughly a quarter of the government’s annual 19,000-unit target.

The Secretary for Development further added that the government may add more sites in the Land Sale Programme during the quarter depending on market conditions and work progress to ensure a stable supply of land.

He also mentioned that the two sites in Tuen Mun So Kwun Wat already finished the land-use change process and will be included in this year’s Land Sale Programme. They could supply 2,600 units.

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