(To watch the full media session with sign language interpretation, click here.)

Secretary for Development Bernadette Linn today announced that the Government will put up for tender a residential site in Tsuen Wan that can provide about 780 flats.

Unveiling the Land Sale Programme for the second quarter of this financial year, Ms Linn said the site is situated in a mature neighbourhood with comprehensive surrounding facilities and traffic network.

“It is relatively still small in scale and located in a mature urban area with good transport connections. So we think this kind of site will be of interest to the developers in the current climate of the property market.”

Additionally, residential land supply will stem from private development and redevelopment projects requiring lease modification, of which six cases are expected to complete the land administration procedures in the second quarter, providing a total supply of around 4,170 flats.

“Regarding the overall supply for the second quarter, taking into account this Tsuen Wan site, together with six other cases involving lease modifications, we should be able to turn out land capable of supplying (about) 4,950 units in this quarter.”

She pointed out that one is a land exchange case at Hung Shui Kiu Area 34B in an area of high development potential in the Northern Metropolis and would foster the development of the area along with the planning of Hung Shui Kiu/Ha Tsuen New Development Area.

The development chief also said that taking into account the supply from the first quarter, the total private housing land supply of the first half of this financial year will reach about 6,000 units, which is around 45% of the annual supply target.

“I think it suggests that we are moving in a stable manner towards our annual target,” Ms Linn added.