Gov’t to tender four residential & one hotel site in coming quarter

Gov’t to tender four residential & one hotel site in coming quarter

Q2 land sale plan announced

The Government has said it will sell by tender four residential sites and one hotel site in the coming quarter, which can provide about 2,100 flats and 1,100 hotel rooms, Secretary for Development Paul Chan announced today.

Meeting the media on the land sale programme for the coming three months, Mr Chan said the four residential sites are located in Lei Yue Mun, Tuen Mun, Fanling and Pak Shek Kok, while the hotel site is in Tung Chung.

To ensure the flat-supply quantity, it will require developers to provide a specified minimum number of flats for the sites in Lei Yue Mun, Tuen Mun and Fanling, which together will produce about 1,300 flats, Mr Chan said.

The MTR Corporation is also planning to tender its project at Tai Wai Station in the same quarter, which is estimated to provide about 2,900 flats, he added.

For the period from April to June, the Government has  so far offered six sites for sale, together with the Urban Renewal Authority’s Kwun Tong town centre project, which will produce about 3,200 flats in total.

The residential sites that have been announced for sale in the first two quarters of 2014-15, together with the Urban Renewal Authority and MTR projects, are capable of producing about 8,200 private residential flats in total, Mr Chan said. He also added that they will continue to monitor the market situation and steadily supply housing land for the property market’s healthy development.

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