Q3 land sale plan unveiled

Q3 land sale plan unveiled

The private housing land supply for October to December can provide about 4,840 flats, Secretary for Development Paul Chan announced today.

Meeting the media on the land sale programme for the coming three months, Mr Chan said the supply would come from Government land sales, railway property developments and Urban Renewal Authority projects.

He said the Government will sell by tender four residential sites, which can provide about 2,850 flats. Three are located in Tai Po and one is in Tuen Mun.

The MTR Corporation plans to tender Package 9 of LOHAS Park in Tseung Kwan O in the quarter, which is expected to provide about 1,700 flats.

The URA will also invite tenders for its Hai Tan Street project in Sham Shui Po, and its Kowloon City Road/Sheung Heung Road project in Ma Tau Kok, which can provide 285 flats.

The private housing land supply in the first three quarters of 2015-16 can yield around 16,700 units, about 88% of the full-year target of 19,000 flats.

In response to the keen market demand for commercial floor space, Mr Chan said that government office space in Trade & Industry Department Tower in Mong Kok will be released for commercial use after the departments have been relocated to the Kai Tak Development Area within this year.

The Government Property Agency plans to invite tenders before the end of the year for the government property at the tower, providing about 26,400 square metres of commercial gross floor area.
Mr Chan also reaffirmed that the Government will not relax property cooling measures at this stage.

“The Government will closely monitor the market situation and spare no efforts to identify additional suitable sites for development. The objective is to provide a steady, sustained land supply to the market to cater for the community’s demand for private housing, commercial and business sites,” he said.

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