February 3, 2012
47 residential sites to be sold
On February 2, 2012, Secretary for Development Carrie Lam announced 47 residential sites producing 13,500 flats, and four commercial-business sites and two hotel sites will be sold in the Government's 2012-13 Land Sale Programme.
The Government has included for the first time private residential sites in the Kai Tak Development. Two sites with a total area of about 1.6 hectares will provide 1,000 flats. Upon completion, the Kai Tak Development will provide land for 17,000 private housing units.
To enhance market competition, she said the Government will split larger sites into smaller ones for sale in Tseung Kwan O, Tuen Mun and Tai Po. To ensure small and medium-size flat supply, she said the Government will continue to impose flat-number and flat-size restrictions at suitable sites having regard to site characteristics and market conditions. Four residential sites will be sold by tender - two in Tseung Kwan O, and one each in Sha Tin and North Point - providing 1,400 flats in the April-June quarter.
The Energising Kowloon East scheme and the relocation of government offices will raise the supply of offices and hotel sites. Railway-property developments are another source of land. The West Rail sites at Long Ping (North), Long Ping (South), Tsuen Wan West and Yuen Long Stations, together with sites at Tai Wai Station, Tin Shui Wai Light Rail Terminus and in Tseung Kwan O can provide 10,500 flats. She said the total housing land supply in the coming financial year will produce 30,000 flats.