1 RESIDENTIAL SITE SET FOR SALE

(To watch the full media session with sign language interpretation, click here.)

Secretary for Development Bernadette Linn today announced that the Government will put up for tender a residential site in Tung Chung, providing a supply of about 745 flats.

Unveiling the Land Sale Programme for the fourth quarter of this financial year, Ms Linn said the site located at Area 106B of Tung Chung New Town Extension is expected to provide a total gross floor area of approximately 37,200 sq m.

She highlighted that the site was not listed on 2024-25 Land Sale Programme, but the Government considers it an appropriate time to include the site in the land sale programme and roll it out for tender in the fourth quarter.

Ms Linn explained that in making the decision, the Government considered the recent market environment, views from market stakeholders and the MTR Corporation's recent successful tender of a site nearby as well as the upcoming gradual completion of public housing in the area.

“Area 106B sits on a harbourfront location and will be served by the future Tung Chung East Station. We have heard views from the real estate industry suggesting that the Government should roll out simpler, smaller sites with fewer requirements on site formation and government facilities.

“The tender of area 106B is in line with such market expectations as it attaches very simple tender conditions and no requirement to construct government facilities.

“Moreover, as the site sits on reclaimed land, the developer is not required to conduct any further site formation works which may help reduce development costs.”

As regards housing supply from other sources, the Urban Renewal Authority plans to tender in this same quarter its development projects in Shantung Street/Thistle Street in Mong Kok, bringing about 340 flats.

As for private development and redevelopment projects, two projects are expected to complete their lease modifications in the quarter. They are rather small-scale projects providing a supply of 13 flats.

Ms Linn summarised that taking all sources of land supply into account, the total private housing land supply in the fourth quarter will support the development of around 1,100 flats.

Giving an overview of the outturn for the financial year, she said that together with the supply from the first three quarters, the total supply of the year is expected to support some 8,340 flats, which is around 63% of the annual supply target. 

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