Hong Kong: Three sites to be sold next quarter

Hong Kong: Three sites to be sold next quarter

The Government will sell three residential sites by tender in the July-September land sale plan.

The sites, on Lantau Island, in Tai Po and in Cheung Sha Wan, can provide 1,350 flats. Secretary for Development Eric Ma announced the plan today.

He said, together with private development and redevelopment projects which will provide about 5,380 flats, total supply in the quarter will be 6,730 units. Reviewing the first half of 2017-18, he said the private housing land supply was 16,100 flats, meeting 89% of the full-year target. Mr Ma also highlighted the outturn of the private housing land supply in 2016-17 and during the current term of the Government.

“The aggregate private housing land supply in 2016-17 had an estimated capacity to produce about 20,140 flats, exceeding the land supply target of 18,000 flats set for that year by about 12%.” From 2012-13 to 2016-17, the private housing land supply was estimated to provide about 95,860 flats, meeting the target set by the Government. “The Government will closely monitor the market situation and spare no effort in identifying other sites suitable for development,” Mr Ma added. Click here for the land sale plan.

Click here for the land sale plan.

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