Government announces quarterly land sale programme for July to September 2022

     The Government announced today (July 14) the quarterly land sale programme for the second quarter of 2022-23, i.e. July to September 2022.
     The Secretary for Development, Ms Bernadette Linn, said that in the second quarter of 2022-23 the Government will sell by tender three residential sites in Sha Tin, Kwai Chung and Tuen Mun. The total estimated flat yield is about 2 600 units.
     The Urban Renewal Authority also plans to sell by tender a development project at Wing Kwong Street/Sung On Street, To Kwa Wan, which is capable of producing about 560 units.
     On private development and redevelopment projects, three projects are expected to have their lease modification processes completed in the second quarter, and are capable of producing about 50 units.
     Ms Linn said that taking all sources of private housing land supply into account, the total private housing land supply in the second quarter is estimated to be about 3 210 units. Together with the land supply for 2 140 units in the first quarter, the total private housing land supply in the first half of 2022-23 is expected to provide about 5 350 units, reaching around 40 per cent of the annual target of private housing supply (12 900 units).
     As regards commercial land, the Government plans to put up for tender a site on Anderson Road, Kwun Tong, capable of providing around 13 000 square metres of gross floor area.
     Ms Linn said in regard to private residential land supply in 2021-22, taking into account the private development projects that do not require lease modifications recorded in the fourth quarter, as well as the tender cancellation of a residential site, the actual land supply for the financial year is adjusted to about 18 930 flats, exceeding the supply target by almost 50 per cent.
     "As for the remaining sites on our 2022-23 Land Sale Programme, some of them are still undergoing rezoning or road works gazettal procedures, land clearance, etc. We will press ahead with the preparatory work with a view to getting ready the potential land sale sites in the year," Ms Linn said.
     "The Government will continue to increase land supply through a multi-pronged approach, sparing no effort in taking forward a series of site production projects, including new development areas, reclamation, rezoning of individual sites, etc. We will also continue to look for more land resources, as well as compress our development procedures through administrative and legislative means, in order to expedite our site search and production to meet the needs of our community."
     The list of the sites to be tendered in July to September 2022 is in the Annex. The actual tender timetable will be drawn up taking into account the progress of necessary preparatory work. The Lands Department will announce the detailed land sale arrangements before individual sites are put up for tender. 

Ends/Thursday, July 14, 2022
Issued at HKT 20:08