LAND SALE PLAN ANNOUNCED

(To watch the full press conference with sign language interpretation, click here.)

Secretary for Development Bernadette Linn announced the Government's 2023-24 Land Sale Programme that covers 12 residential sites, providing about 9,120 flats.

Among those sites, two are on Hong Kong Island, two are in Kowloon and eight are in the New Territories.

Ms Linn said a site in Tsuen Wan has been identified for Starter Homes, capable of providing about 1,950 flats and is scheduled for disposal in the first quarter of 2023-24. 

She added that the site at Tung Chung Area 106A has been identified for the Youth Hostel Scheme. The developer has to construct youth hostel units and facilities prescribed by the Government. 

There will be three railway property development projects - Oyster Bay Package 1 and 2 and Tung Chung East Station Package 1- providing about 4,530 flats.

Meanwhile, the Urban Renewal Authority plans to take forward three projects at Shing Tak Street/Ma Tau Chung Road and Kai Tak Road/Sa Po Road in Kowloon City as well as Nga Tsin Wai Village in Wong Tai Sin, which can provide a total of about 2,200 flats.

As for private development/redevelopment projects, the supply in 2023-24 is estimated to be around 4,700 flats.

Taking into consideration the estimated land supply from various sources, the private housing land supply in 2023-24 will yield an estimated 20,550 units, which exceeds the target of 12,900 flats for the private housing land supply in 2023-24.

Ms Linn said: “We cannot guarantee that all the sites in the Land Sale Programme will be rolled out in the coming financial year.

“We have always stressed that having the sites included in the Land Sale Programme signifies the Government's intention to get those sites ready for disposal when we are ready to do so.

“But whether they will actually be disposed also depends on the supply from other sources, like from redevelopment, because we count all sources together to ensure a balanced and healthy supply.”

Regarding commercial land, the Government will sell three commercial sites in Wan Chai, Admiralty and Kai Tak, providing a total of about 202,000 sq m of gross floor area. 

Ms Linn also stated, for the first time in the annual Land Sale Programme, that three industrial sites in Yuen Long will be put up for sale in the coming financial year, which can produce about 170,000 sq m of gross floor area in total.

Such sites in Yuen Long can be deployed for development of modern industrial buildings to accommodate some of the brownfield operators intending to re-establish their business, so as to enhance land use efficiency and promote industrial development.

For the first quarter of 2023-24, ie April to June this year, apart from the Tsuen Wan site identified for Starter Homes, the Government will also put up another residential site in Kennedy Town, which can provide a total of about 2,400 flats.

Taking into account the land supply of about 360 flats from five private development/redevelopment projects, private housing land supply in the same period is estimated to be able to produce about 2,760 flats.

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