RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Private development projects to provide 15,600 flats

It’s exponentially higher than the annual average of 4,200 flats in the past decade.

A steady stream of private development and redevelopment projects is projected to contribute to a higher level of flat production this year which can provide an estimated total of 15,600 flats, according to Secretary for Development Michael Wong.

This figure is exponentially higher than the annual average of about 4,200 flats in the past 10 years, Wong added. 

The 2017-18 Land Sale Programme announced in February comprises 28 residential sites with potential for sale, capable of providing about 18,910 flats.

For railway property development projects, the MTR Corporation Limited tendered Package 1 of West Rail Kam Sheung Road Station and Package 2 of Wong Chuk Hang Station projects in May and December respectively. The two railway projects have a capacity to provide about 2,600 flats in total.

Additionally, a project on Fuk Chak Street/Li Tak Street in Tai Kok Tsui and Reclamation Street/Shantung Street in Mong Kok have the capacity to provide 280 flats. 

"Combining all the above, the private housing land supply in 2017-18 has a total capacity of providing about 24,300 flats, exceeding the 2017-18 private housing land supply target of 18,000 flats by about 6,300 flats," he said.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.