Read More
The 2024-25 Land Sale Programme will cover a total of eight residential sites. The potential land supply, including railway property developments, private development and redevelopment projects as well as projects undertaken by the Urban Renewal Authority, is expected to have a capacity for providing about 15,000 units, said Paul Chan.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
The Land Sale Programme will also include two commercial sites and one industrial site, capable of providing about 120,000 square meters of commercial floor area and 540,000 square meters of industrial floor area respectively.
Meanwhile, Chan said the government will make available land for the production of no less than 80,000 private housing units in the coming five years. Among them, about 60 percent comes from New Development Areas/New Town Extensions, with another 40 percent from government land sale and railway property development projects in other districts.
On private housing supply, Chan estimated that the completion of private residential units will average over 19,000 units annually in the five years from 2024. The potential supply of first-hand private residential units for the next three to four years will be around 109,000 units.
Separately, Chan said the Government has identified sufficient land for meeting the supply target of 308,000 public housing units over the next ten years (from 2024-25 to 2033-34). As at the end of last year, construction of about 105,000 units under the Hong Kong Housing Authority has commenced with satisfactory progress, he added.
The Cash Allowance Trial Scheme due to expire by mid-2024 will also be extended for one year until June 2025, to help grassroots families on the waiting list for public rental housing.
