Govt to roll out one residential site this quarter

A small plot in Kowloon for around 250 flats is the only residential site to be put up for tender this quarter under the land sale programme, with the government saying it is already more than on track to meet its housing targets.

The site on Fat Kwong Street in Ho Man Tin is able to provide floor space of around 19,300 square metres.

Development Secretary Bernadette Linn on Friday said taking all sources into account, total private housing land supply in the second quarter of this financial year will top 10,000 units.

"For this quarter, we already have quite a substantial turnout, so we believe rolling out one site that is in the Kowloon urban area should be something welcomed by the market," Linn said.

The MTR Corporation is expected to supply 5,510 flats this quarter via the second package of a "railway plus property" project in Tuen Mun, while 1,220 homes could come from the URA's "Bailey Street/Chi Kiang Street Project" in Hung Hom that was launched on July 3.

"Together with the supply from the first quarter, the total private housing land supply of the first half of this financial year is expected to support some 12,430 units, which is very close to the annual target of private housing supply for this financial year [12,600 units]," Linn said.

"The supply target for the financial year is likely to be achieved shortly because of the need for the government to spearhead development in the Northern Metropolis or railway property development projects in a timely manner taking into account the overall land and infrastructure development strategy."

She added that as well as more active transactions in the private market, developers are being "more proactive in bidding for land or engaging in private development projects."

Edited by Thomas McAlinden ...