Hong Kong: Land sale to bring 4,800 flats

Hong Kong: Land sale to bring 4,800 flats

Private housing land supply in the next quarter will provide more than 4,800 flats.

Secretary for Development Paul Chan told the media today the land will come from Government land sales and an Urban Renewal Authority project.

The Government will sell by tender seven residential sites in Yuen Long, Beacon Hill, Sha Tin, Kai Tak, Kwun Tong and two in Tuen Mun, providing 4,760 flats.

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The Kai Tak commercial site is near the proposed Sha Tin to Central Link’s Kai Tak Station. An iconic twin-tower development is planned for the site.

The authority will tender a Kowloon Road / Kiu Yam Street project in Sham Shui Po which will provide another 80 flats.

He said private housing land supply in the first half of 2016-17 will yield 9,580 flats, exceeding half of the private housing land supply target of 18,000 flats by more than 6.5% and stated that the Government will closely monitor the market situation and identify other sites suitable for development to ensure a steady and sustained land supply.

Meanwhile, the Government will also sell a commercial site in Kai Tak and a business site in Wong Chuk Hang next quarter, which will provide 128,000 sq m of gross floor area.

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A commercial site in Kai Tak and a business site in Wong Chuk Hang, which can provide 128,000 square metres of gross floor area in total, will be tendered to meet keen market demand.

 

Hong Kong: Land sale to bring 4,800 flats

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