Private housing land supply unshaken by unsuccessful Tung Chung tender: gov’t

MTR Corporation rejected all bids for the property dev't at the Tung Chung site.

The government said the unsuccessful tender of the Tung Chung Traction Substation development project will have no material impact on the city’s total private housing land supply from 2021 to 2022.

MTR Corporation Limited on 5 November announced that it rejected the bids it received for the development of a property project at Tung Chung Traction Substation.

The government also said it has other land supply sources apart from railway development projects including government land sale, projects of the Urban Renewal Authority, and private development/redevelopment projects.

"The government has adopted a multi-pronged approach to increase private housing land supply,” a spokesperson said.

As of the third quarter of 2021, HK’s total private housing land supply in 2021-2022 is expected to produce about 13,700 units, higher than its target of 12,900 units.