Government announces quarterly land sale programme for July to September 2013

     The Government announced today (June 28) that it will sell by tender nine residential sites and one business site in the second quarter of this financial year (i.e. July to September 2013), which are capable of producing about 2,500 flats and about 52,000 square metres of commercial floor area.

     Among the nine residential sites to be put up for sale by the Government in the next quarter, two are located in Kau To, Sha Tin, and one each in Wan Chai, Yuen Long, Sha Tau Kok, Tsuen Wan, Tuen Mun, Sheung Shui and Sai Kung.

     The Secretary for Development, Mr Paul Chan, said that to better ensure the quantity of flat supply, the Government will require developers to provide a specified minimum number of flats at the six sites in Yuen Long, Sha Tau Kok, Tsuen Wan, Tuen Mun, Sheung Shui and Sai Kung. The Lands Department (LandsD) will announce the details before the sites are tendered.

     In addition to residential sites, a business site in Kowloon Bay will be tendered in the same quarter. The disposal of the site will facilitate the transformation of Kowloon East into another core business district.

     "We will continue to proactively increase land supply. In the first quarter of 2013-14 (i.e. April to June 2013), the Government announced the sale of seven residential sites, capable of producing about 2,400 flats. Together with the nine residential sites to be sold in the second quarter (i.e. July to September 2013), the 16 residential sites are capable of producing about 4,900 flats in total," Mr Chan said.

     The 2013 Policy Address outlines a series of measures to increase housing land supply in the short to medium term, including the review of land uses of various zonings to make use of suitable land for housing development.  

     Mr Chan said that with the concerted efforts of the relevant departments, the Government has identified five additional residential sites for inclusion in the 2013-14 Land Sale Programme. They are located in Sha Tin, Tuen Mun and Shau Kei Wan. Furthermore, based on the current works progress, it is anticipated that a residential site at Kai Tak Site 1H3 could be made ready earlier than expected for inclusion in the 2013-14 Land Sale Programme. These additional six residential sites are estimated to be capable of producing about 1,500 flats in total.  

     "The addition of six new sites is part of the achievements of the Government's continued efforts to increase land supply in the short to medium term through a series of measures. It also demonstrates the Government's efforts and commitment to continuously increase housing land supply to the market. We will continue to identify other suitable sites for residential development, and add them to the land sale programme where appropriate to meet the market demand for housing land more flexibly," he said.

     Mr Chan pointed out that other than the Government's land sale programme, railway property development projects have all along been an important source of housing land supply. For the West Rail property development projects, the West Rail Long Ping Station (South) project was recently tendered successfully in early June to provide about 720 flats to the market. The Government and the MTR Corporation Limited (MTRCL) are revising the scheme of the West Rail Yuen Long property development project, which is planned for tendering in 2013-14 and could provide about 1,880 flats. In addition, the MTRCL indicated in March 2013 that it planned to re-tender its own property development projects at Tai Wai Station and Tin Shui Wai Light Rail Terminus over the next 12 months, which could provide about 2,900 flats and about 1,500 flats respectively, subject to market conditions.

     Mr Chan also announced that the Government has decided to transfer the three private residential sites in Shek Mun, Sha Tin in the 2013-14 Land Sale Programme for public housing development. The site transfer will help achieve the production target of public rental housing set by the Chief Executive in the 2013 Policy Address that the total supply of public rental housing will be at least 100,000 units over the five years starting from 2018. The Government will endeavour to complete the construction works as early as possible. This is a response to the calls of different sectors in the community for subsidised housing land.

     "The Government will continue to closely monitor the market situation and steadily supply more housing land," Mr Chan said.

     The list of the sites to be tendered in July to September 2013 and the six new sites is attached. LandsD will separately announce the detailed land sale arrangements before individual sites are tendered.

Ends/Friday, June 28, 2013
Issued at HKT 19:16