Following are the opening remarks by the Secretary for Development, Ms Bernadette Linn, at a media session today (December 30) on the quarterly land sale programme for January to March 2023:
Good afternoon. Today I will introduce the Government's Land Sale Programme in the fourth quarter of this financial year.
Let me first provide an update on the private housing land supply in the first three quarters of this financial year. The various sources of private housing land will support the supply of some 12 950 flats, which has already exceeded our annual supply target for this year, which is 12 900 flats.
In the fourth quarter, which is January to March in the coming calendar year, one residential site in Tsuen Wan will be put up for tender, providing around 490 flats.
In addition, eight private development projects are expected to complete their lease modifications in the fourth quarter, providing a supply of about 2 630 flats.
Taking all sources of private housing land supply into account, the total private housing land supply in the fourth quarter would support the development of around 3 120 flats.
Together with the supply from the first three quarters, the total private housing land supply of this financial year is expected to support some 16 070 flats, exceeding the annual target set for this year by about 25 per cent. This total supply so far has not completely reflected private development projects not requiring lease modification in the third and fourth quarter, as such figures are only available at a later stage.
Separately, as regards commercial land, in the fourth quarter, we plan to put up for tender a commercial site at the Junction of Sai Yee Street and Argyle Street in Mong Kok. The site is a rather rare large-scale commercial land in Kowloon, capable of providing around 141 600 square meters of gross floor area (GFA). To utilise this site situated at a prime urban location, we will require the developer via the land sale conditions to provide social and infrastructural facilities specified by the Government, including social welfare facilities, a community hall, a public transport interchange, cross-border coaches' stop, as well as public car parking spaces.
We will continue to adopt a multi-pronged approach to increase land supply and sustain our efforts in providing a continuous and steady land supply to the market for development.
Ends/Friday, December 30, 2022
Issued at HKT 18:31
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