Land limitations:
Chief Executive CY Leung (centre), Secretary for Development (right) and Secretary for Transport & Housing Prof Anthony Cheung brief the media on the implementation of 'Hong Kong property for Hong Kong residents' policy on two Kai Tak sites.
Land limitations:
Chief Executive CY Leung (centre), Secretary for Development (right) and Secretary for Transport & Housing Prof Anthony Cheung brief the media on the implementation of 'Hong Kong property for Hong Kong residents' policy on two Kai Tak sites.
2 sites for HK people only
September 06, 2012
Only Hong Kong permanent residents will be able to buy flats at two new Kai Tak developments, Chief Executive CY Leung announced today.
Briefing the media, Mr Leung said the flats can only be resold to Hong Kong permanent residents in the capacity of an individual for 30 years.
He said the 'Hong Kong property for Hong Kong residents' policy will make good use of the limited land in the city to meet local housing needs.
The implementation of the policy in a short time shows the Government’s determination to solve the housing problem, he added, urging people to have confidence in his administration.
Secretary for Development Paul Chan said the two sites will be sold in the first quarter of next year. The sites can provide 1,100 units.
Secretary for Transport & Housing Prof Anthony Cheung said there are still flats for non-permanent residents on the market, adding the policy maintains Hong Kong's status as a free market while meeting local housing demand.
Meanwhile, Mr Leung also inspected the cruise terminal facilities today. He said the project will create the largest tourism facility in recent years, costing $8.2 billion. About 1,500 people are working at the site.
He said there are two berths and one will be completed next year. Each will be able to berth the world's largest cruise vessel, with a gross tonnage of 220,000 tonnes. He said the terminal will bring opportunities to the whole Kowloon East area when it is completed next year.
