Quarterly land sale plan unveiled
From January to March next year, the Government will put up for tender two small-to-medium scale residential sites, Secretary for Development Bernadette Linn announced today.
The first site is on Choi Ha Road in Ngau Tau Kok, and can provide around 470 flats, while the other is on Shau Kei Wan Main Street East, on Hong Kong Island, and can provide around 200 flats.
Originally zoned for “Government, Institution or Community” use, both sites have been rezoned for residential use.
Ms Linn commented that the two sites are expected to be welcomed by the market, as they are situated in relatively mature neighbourhoods, near MTR stations, with comprehensive surrounding facilities and road networks.
Aside from government land sales, residential land supply in the fourth quarter of 2025-26 will include the MTR Corporation’s Kam Sheung Road Station Phase 2 development project, which will have capacity to provide around 1,290 flats.
Additionally, the Urban Renewal Authority plans to execute the land lease for the Kai Tak Road/Sa Po Road development, and will take forward advance works with a view to expediting the provision of around 810 flats.
Separately, in terms of private development and redevelopment, two projects are expected to complete lease modification procedures in the fourth quarter, providing a total of around 190 flats.
Taking all sources of land supply into account, private housing land supply in the fourth quarter of this financial year will support the development of around 2,960 units in total.
Ms Linn said: “Together with the supply from the first three quarters, the total private housing land supply of this financial year is expected to support some 15,750 units, exceeding the annual supply target by close to 20%.”
During the current financial year, around 60% of residential land supply will have come from private development projects, while the remaining 40% will have been from government land sales and projects initiated by the MTR Corporation and the Urban Renewal Authority.
“The higher-than-expected private housing land supply reflects developers’ optimism towards the market outlook," Ms Linn added. "It is also the Government’s aspiration for the launch of more new private housing projects to bring about economic activities and employment opportunities.”