News
RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong
view(s)

Reclamation and real estate revamp eyed to boost flat supply

The airport relocation enabled the redevelopment possibility of old Kowloon homes, said CE Lam.

The government is eyeing a series of options including the redevelopment of old housing estates and reclamation in an effort to respond to Hong Kong’s perennial housing woes.

Also read: Government unveils new initiatives to ease housing crunch

The relocation of the airport to Chek Lap Kok gave the Hong Kong Housing Society potential to redevelop old housing estates in Kowloon, Chief Executive Lam said in a statement in defense of the redevelopment plan which she argues will improve living conditions and boost flat supply.

She cited Kai Tak where the nearby buildings were low-rise due to height restrictions.

Also read: 74,7000 new public rental housing units to be luanched in the next five years

The government is also refusing to do away with the possibility of large-scale reclamation to unlock more land for flats as the land shortage has exceeded the intitial government estimate of 1,200 hectares. 

“Let me clarify. I am not saying reclamation is the only way, but for Hong Kong’s long-term land supply to be adequate, reclamation seems to be unavoidable,” she told reporters in a Legislative Council Q&A session.

South China Morning Post reports that the reclamation sites might involve Lung Kwu Tan, Sunny Bay, Siu Ho Wan, Tsing Yi Southwest and Ma Liu Shui.

In fact, housing minister Frank Chan was quoted by SCMP saying that reclamation efforts could produce an area larger than Sha Tin New Town, which is estimated at around 3,590 hectares.

The administration earlier unveiled a series of housing initiatives to boost home supply in space-starved Hong Kong including taxing vacant first-hand private residential units. Additionally, the Starter Homes pilot project will also be launched on a URA site at Ma Tau Wai Road to provide more home options for middle-income families.

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.