Date
30 May 2017
Development Secretary Paul Chan is banking on the auction of three residential sites, including one in Tsing Yi, to meet supply goals. Photo: HKEJ
Development Secretary Paul Chan is banking on the auction of three residential sites, including one in Tsing Yi, to meet supply goals. Photo: HKEJ

Govt to launch more land sales to meet housing supply goals

Land sales in the first quarter of the fiscal year that started in April will only add 4,510 flats to the housing supply, about 30 percent less than the projected 6,300 units, Apple Daily reported on Tuesday.

A total of 21,200 flats were supplied last year, 13 percent more than the goal.

To meet the annual target of supplying 19,000 flats in the current year, Development Secretary Paul Chan Mo-po unveiled on Monday a quarterly land sale program for the second quarter that could produce an additional supply of 5,100 flats.

Under the program, the government will sell by tender three residential sites, which could produce about 1,650 flats. These sites are in Pak Shek Kok, Tuen Mun and Tsing Yi.

The government will also implement the West Rail property development project at the Yuen Long MTR Station with a capacity to provide 1,880 flats, the most in a single land sale.

Another 1,430 units will come from phase eight of the MTR Lohas Park development and 120 units from a URA project in Shau Kei Wan.

Meanwhile, as the Development Bureau tries to catch up with the schedule to meet the home supply goal, another problem has cropped up. The Yuen Long site that was re-zoned in September is the subject of a petition by the environmental group Green Sense for judicial review.

Chan said the petition for judicial review has been rejected, although it is uncertain whether an appeal will be sought. He said he has directed the MTR Corp. to tender the project in the coming quarter.

Roy Tam, president of Green Sense, said the government should be more careful about its land sales as developers are likely to build luxury houses rather than more affordable ones.

Still, Chan said his priority is to meet the supply goals and more land auctions may be announced.

– Contact us at [email protected]

TL/AC/CG

EJI Weekly Newsletter

Please click here to unsubscribe