Govt to sell 46 residential plots in 2013-14
(02-28 17:46)
The government plans to auction 46 residential plots which can provide a total of 13,600 flats in 2013-14, said Development Minister Paul Chan Mo-po. Including projects under the MTR Corporation and Urban Renewal Authority, the total number of units built would be 25,800 -- down from last year's 30,000.
He said there would be a plot for hotel, providing 300 rooms under the government land sale program for the period. Nine plots are mainly for commercial uses, with a total buildable floor area of 330,000 square metres.
Among the 46 residential plots, 28 are newly added, said Chan. The government will include various conditions in the auctions according to different plots -- three in Hong Kong, 10 in Kowloon and 33 in the New Territories.
Chan also announced that the government will abolish the application list system, in a bid to regain the control of housing supply.
Cheung Kong Holdings (0001) executive director Justin Chiu Kwok-hung said this shows that the government has a full understanding of current housing market, that's why it is confident to cease the mechanism.
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