The Government announced today (June 29) the quarterly land sale programme for the second quarter of 2015-16, i.e. July to September 2015.
"The private housing land supply in the second quarter of 2015-16, which includes government land sale, railway property development projects and a project of the Urban Renewal Authority (URA), is estimated to have a capacity to produce about 5,100 flats in total," the Secretary for Development, Mr Paul Chan, said.
In the second quarter of 2015-16, the Government will sell by tender three residential sites, which have a total capacity to produce about 1,650 flats. These three sites are located at Pak Shek Kok, Tuen Mun and Tsing Yi.
In addition, the Government is also taking the lead in implementing the West Rail property development project at Yuen Long Station. On the request of the Government, the MTR Corporation Limited (MTRCL) will tender the project in the coming quarter. Its project has a capacity to provide about 1,880 flats. At the same time, the MTRCL also plans to tender Package 8 of LOHAS Park in the same quarter, with an estimated capacity to provide about 1,430 flats. As for the other packages of LOHAS Park, having a capacity to provide about 2,900 flats, the MTRCL plans to tender them in the second half of this financial year.
The URA will also invite tenders for its Sai Wan Ho Street project in Shau Kei Wan in the coming quarter. The project has a capacity to provide about 120 flats.
Mr Chan reviewed the private housing land supply situation in the first half of 2015-16. The URA's redevelopment project at Ma Tau Wai Road/Chun Tin Street, involving about 490 private flats, was mentioned when the annual and the first quarterly Land Sale Programmes were announced in February 2015. As the URA is assessing the feasibility of providing subsidised sale flats through that redevelopment project, the project has been excluded from the private housing land supply statistics of the first quarter of 2015-16 (i.e. April to June 2015). In other words, the private housing land supply in the first quarter of 2015-16, which includes five residential sites put up for sale by the Government, the MTRCL's Package 7 of LOHAS Park and the URA's project at Pak Tai Street/San Shan Road, have a capacity to provide about 4,500 flats in total. Together with the sites in the second quarter mentioned above, the private housing land supply in the first half of 2015-16, before taking into consideration private development or redevelopment projects, has a capacity to provide around 9,600 flats, about half of the 2015-16 private housing land supply target of providing 19,000 flats.
"With the concerted efforts of relevant departments, the rezoning procedure in respect of two residential sites on Castle Peak Road - So Kwun Wat, Area 48, Tuen Mun, has been completed. These two residential sites, which have a capacity to provide about 2,600 flats, are added to the 2015-16 Land Sale Programme," Mr Chan said.
Mr Chan also provided an update on the private housing land supply situation of the previous two financial years. In 2014-15, the land supply from private development or redevelopment projects was estimated to have a capacity to provide about 3,800 flats, an increase of about 900 flats when compared with the figure announced in February 2015. As such, the aggregate private housing land supply in 2014-15 had an estimated capacity to produce about 21,200 flats, exceeding the land supply target of 18,800 flats set for that year by about 13 per cent. That was a record high since the Government introduced the private housing land supply target in 2010. The aggregate private housing land supply in 2013-14 and 2014-15 was estimated to have a capacity to provide about 39,000 flats, slightly above the combined land supply target of 38,800 flats set for the two years.
In the second quarter of 2015-16, a business site at Shek Mun, which has a capacity to provide about 16,000 square metres of gross floor area, will be tendered to meet market demand. This business site is also newly added to the 2015-16 Land Sale Programme, as a result of the relevant departments' continual efforts in identifying suitable sites for development.
Subject to the progress of rezoning and other work as well as market conditions, the Government may put up additional sites for sale within the second quarter of 2015-16.
"The Government will closely monitor the market situation and spare no efforts in identifying more suitable sites for development. The objective is to provide a steady, sustained land supply to the market to cater for the community's demand for private housing, commercial or business sites," Mr Chan said.
The list of the sites to be tendered in July to September 2015 is attached. The Lands Department will separately announce the detailed land sale arrangements before individual sites are tendered.
Ends/Monday, June 29, 2015
Issued at HKT 18:45
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