Hong Kong unveils 2019 Land Sales Programme

It will provide around 8,850 flats.

Hong Kong’s secretary for development Michael Wong announced the Government's 2019-20 Land Sales Programme, which comprises of 15 residential sites, providing around 8,850 flats and seven commercial/hotel sites.

These sites can cover approximately 814,600 sqm of gross floor area.

Amongst the 15 residential sites, eight are rolled over from the 2018-19 Land Sales Programme, which consists of around 6,180 flats in total, with the remaining seven sites that can provide about 2,670 flats.

Apart from the 15 sites for sale, railway property development projects will also continue to contribute to private housing land supply in 2019-20. The property development projects owned by the MTR Corporation Limited (MTRCL) at Wong Chuk Hang Station and LOHAS Park are estimated to provide a total of some 2,650 flats.

Pursuant to the announcement by the Government in December 2018, the housing supply target for the coming 10 years is 450 000 units, and the public/private housing split was revised from 60:40 to 70:30. Correspondingly, the 2019-20 target for private housing land supply from various sources is 13,500 flats.

Amongst the seven commercial/hotel sites, one of them is the topside of Hong Kong West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link. Capable of providing about 294 000 sqm of gross floor area, this is the largest commercial site put up for sale by the Government in recent years.

For the first quarter of 2019-20, i.e. April to June 2019, the Government will tender two residential sites in Kai Tak which are capable of providing about 2 100 flats in total. Together with the supply from private development/redevelopment projects, the private housing land supply in the first quarter of 2019-20 is expected to have a capacity to produce about 2 400 flats.

Apart from residential sites, the Government will put up for sale in the first quarter of 2019-20 one commercial/hotel site adjoining the Kai Tak Sports Park of approximately 32,000 sqm of gross floor area.

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