The Government announced today the handover of a residential site, Tung Chung Area 122 (TC122), to the Housing Society, for the development of subsidised sale flats (SSFs).

The Tung Chung site was originally among several government sites identified for tender under the Private Subsidised Sale Flat – Pilot Scheme. The site has now been handed over to the Housing Society for development as one of its SSF projects. A preliminary estimate indicates that around 1,600 SSFs will be completed at the site in 2031-32. 

The bureau said that the Government always takes a pragmatic approach in adjusting development arrangements at different sites based on demand and actual circumstances.

The Housing Society is a close partner of the Government in housing matters and has profound experience in the development of SSFs. Having assessed the situation, the Government believes handing over TC122 to the Housing Society will expedite the development of SSFs at the site.

The Government announced a policy framework for the pilot scheme, aimed at tapping market forces and boosting overall development capacity, in June 2023. It is now monitoring the market closely with a view to assessing whether adjustments need to be made to the scheme’s parameters or to future tender arrangements. Further announcements will be made in due course.

The Government stressed that the handover of TC122 to the Housing Society is in line with its policy objectives of boosting SSF supply, helping grassroots households achieve home ownership and encouraging upward mobility. It believes the move will be welcomed by the public.