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Govt unveils land sale plan

(To watch the full media session with sign language interpretation, click here.)   The Government today announced that it will sell two residential sites by tender in the October-December quarter that will offer about 210 flats.   Unveiling the Land Sale Programme for the third quarter of the 2021-22 financial year this afternoon, Secretary for Development Michael Wong said one of the residential sites is in Tai Po and the other is in Repulse Bay.   The Urban Renewal Authority also plans to sell by tender a development project at Hung Fook Street/Ngan Hon Street in To Kwa Wan, which can yield about 750 flats.   Lease modifications of 12 private development and redevelopment projects are expected to be completed in the coming quarter, altogether providing about 6,150 flats.   Taking all sources into account, the total private housing land supply in the next quarter will offer around 7,110 units, a new quarterly high in recent years.   Together with a supply of 7,320 flats in the first half of the financial year, the total private housing supply up to the third quarter will amount to around 14,430 units, exceeding the annual target of 12,900 units by more than 10%.   Mr Wong said: "Despite having reached the supply target already, to ensure a steady land supply, we will continue to provide additional supply in the fourth quarter.   "We estimate that the total private housing land supply for the 2021-22 financial year could exceed 17,000 flats."   Additionally, the Government plans to put up for tender an industrial site in Fanling in the third quarter, capable of providing about 8,200 sq m of gross floor area.   For commercial sites, it has no intention to put up any new site for sale in the next quarter.   Mr Wong added that the Government will continue to increase land supply through a multipronged approach to meet the community's housing, economic and social development needs.
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