Government announces quarterly land sale programme for July to September 2017
"The private housing land supply in the second quarter of 2017-18 from government land sales and private development/redevelopment projects is estimated to have a capacity to produce about 6,730 flats in total," the Secretary for Development, Mr Eric Ma, said.
In the second quarter of 2017-18, the Government will sell by tender three residential sites, which have a total capacity to produce about 1,350 flats. These three sites are located in Lantau Island, Tai Po and Cheung Sha Wan.
Private development/redevelopment projects are estimated to provide about 5,380 flats in the same quarter.
Mr Ma reviewed the private housing land supply situation in the first half of 2017-18. The private housing land supply in the first quarter of 2017-18, which comprises three residential sites put up for sale by the Government, Package 1 of the West Rail Kam Sheung Road Station project, the Urban Renewal Authority (URA)'s project at Fuk Chak Street/Li Tak Street in Tai Kok Tsui, and private development/redevelopment projects, has a capacity to provide about 9,330 flats in total. Together with the supply in the second quarter mentioned above, the private housing land supply in the first half of 2017-18 has a capacity to provide around 16,100 flats, representing about 89 per cent of the 2017-18 supply target of 18,000 flats.
In the second quarter of 2017-18, a hotel site in Cheung Sha Wan, capable of providing about 550 rooms, will also be tendered. This hotel site is adjacent to the residential site in Cheung Sha Wan planned for sale in the same quarter. Putting up these two sites for sale in the same quarter can create synergy for the future development of the area concerned.
In addition, the URA plans to invite tenders in the coming quarter for its project at Site C of Peel Street/Graham Street in Central for retail/hotel/office development, providing about 40,275 square metres of commercial gross floor area.
Subject to market conditions as well as the progress of rezoning and other work, the Government may put up additional sites for sale within the second quarter of 2017-18.
Mr Ma also highlighted the outturn of the private housing land supply in 2016-17 and during the current term of the Government. "After adjustment by including about 360 flats from private development/redevelopment projects up to March 2017, 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 per cent. During 2012-13 to 2016-17, the aggregate private housing land supply target was 95,800 flats. The residential sites sold by the Government in the five-year period had a capacity to produce about 51,000 flats. Together with other supply sources (including railway property development projects, projects of the URA and private development/redevelopment projects), the aggregate private housing land supply in the five years was estimated to have a capacity to provide about 95,860 flats, meeting the target set by the Government," Mr Ma said.
"The Government will closely monitor the market situation and spare no efforts in identifying other sites suitable for development. Our objective is to ensure steady, sustained land supply to the market to cater for the community's land demand for private housing and other uses," Mr Ma added.
The list of the sites to be tendered in July to September 2017 is attached. The Lands Department will separately announce the detailed land sale arrangements before individual sites are tendered.
Ends/Friday, June 23, 2017
Issued at HKT 17:26
Issued at HKT 17:26