The Hong Kong government said it will release land supply in the coming fiscal year that could provide 28,600 homes, including 19,200 units from its land sale program, the highest since 2010.
The 28,600 units to be produced from the land supply marks a slight 0.6 percent growth from the level in the 2015-2016 fiscal year, the Hong Kong Economic Journal reported Friday.
However, the supply from projects along railway lines will shrink 35.6 percent to 4,840 units, according to the latest plan unveiled by Secretary for Development Paul Chan Mo-po.
Kai Tak district will host the most number of land parcels under the government land sale plan for the coming fiscal year. Seven out of 29 planned residential sites, or 6,000 units, are located in the district.
Another 11 land parcels are for commercial and industrial purposes.
The government may split some of the larger sites for auctions in which small and medium-sized developers could participate, Chan said.
Observers are of the view that the new plan has shown the government’s determination to maintain steady land supply in the market.
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