Total supply for Q3 land sale programme hits record high

Total private housing land supply would be able to provide about 7,110 flats.

The Hong Kong government announced the land sale programme for the fiscal year's third quarter, October to December 2021.

During the quarter, the government will sell two residential sites in Tai Po and Repulse Bay. The total estimated flat yield is about 210 units. The Urban Renewal Authority (URA) also plans to sell by tender a development project at Hung Fook Street/Ngan Hon Street in To Kwa Wan, which will produce around 750 units. Twelve private development and redevelopment projects will have their lease modification processes completed in the third quarter, yielding 6,150 units.

"The total private housing land supply in the third quarter would be able to provide about 7,110 flats, a new high quarterly figure in recent years," according to the Secretary for Development Michael Wong. "We will continue to provide additional land supply from January to March 2022 through government land sale as well as MTR and URA projects."

The actual tender timetable will take into account the progress of necessary preparatory work. The Lands Department will announce the detailed land sale arrangements before individual sites are up for tender.