A general view of residential buildings in West Kowloon District, Hong Kong on April 11, 2023. (ANDY CHONG / CHINA DAILY)
Secretary for Development Bernadette Linn Hon-ho said on Wednesday that the special administrative region government will put up for tender one residential site under the land sale program from October to December, saying she is “optimistic overall” that the SAR government will achieve its private housing land supply target for the year.
The residential site at Cheung Sha on Lantau Island is expected to provide about 110 flats, according to Linn, who said that no commercial sites will be offered for sale in this period.
MTR Corp and the Urban Renewal Authority will also roll out projects in the fourth quarter of 2023, she said.
MTR will put up for tender Package 1 of Tung Chung East Station, which is expected to offer around 1,200 flats. The URA plans to put up two development projects, totaling around 1,450 flats.
In addition, seven private development projects are expected to complete their lease modifications this quarter, providing a supply of about 440 flats, Linn said.
The total private housing land supply for the fourth quarter is expected to support the development of around 3,200 flats.
The total supply from April to December is expected to provide 10,150 flats, around 80 percent of the government’s annual private housing supply target of 12,900 flats.
Linn said the supply so far does not reflect the total supply from private development projects not requiring lease modifications, as such figures will be available only at a later stage.
“In overall terms, the government will continue to adopt a multipronged approach to increase land supply and sustain our efforts in providing a continuous and steady land supply to the market for development,” she added.
