The government will continue efforts to boost housing and land supply, Chief Executive Leung Chun-ying said in his policy address on Wednesday.
Supply will be increased through initiatives such as the Kai Tak Development Area project, urban renewal ventures, exploration of new development areas and extension of new towns, Leung said.
According to the latest projection, the housing supply target for the next decade from 2017-18 is 460,000 units, including 200,000 public rental housing (PRH) units and 80,000 subsidized sale flats.
“Land supply for public housing still lags and the waiting time for PRH units has increased notably,” the chief executive said.
“If the government and the community do not resolve to expedite the identification of land for housing construction, the problem will remain a tough nut to crack.”
Leung said the government has recently completed a review on increasing the development intensity and enhancing the site planning of the Kai Tak Development Area.
A total of some 16,000 additional residential flats and about 400,000 square meters of commercial floor area will be provided in two phases.
The Urban Renewal Authority (URA), meanwhile, plans to conduct a district planning study for Yau Ma Tei and Mong Kok on a pilot basis. The study will explore ways to enhance the efficiency of existing land use and redevelopment potential of the districts.
The URA will also conduct a study on building rehabilitation strategies to formulate appropriate and sustainable measures to prolong the life span of the buildings and explore the feasibility of “retrofitting” as a proposal for building rehabilitation, Leung said in his policy address.
For the medium to long-term, the government will focus on the development of new development areas and extension of new towns, which include Kwu Tung North and Fanling North, Tung Chung, Hung Shui Kiu and Yuen Long South, to provide additional housing, community facilities, public space and land for economic use.
These development projects are expected to provide close to 200,000 housing units and over 8.6 million square meters of industrial and commercial floor area between 2023 and 2038, Leung said.
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