HK to tender two plots for the final quarter in fiscal 2025

The Hong Kong government will put two residential sites for sale in the coming January-March period as the city's property market continues to gain momentum.

In the government's land sale list, one residential-use plot is on Choi Ha Road, Ngau Tau Kok, and is expected to offer 470 units, while the other site at Main Street East, Shau Kei Wan, will provide 200 units, said Secretary for Development Bernadette Linn Hon-ho.

The two sites, previously used by the government and institutions, have finished planning adjustment, Linn said, adding that she has confidence in the tender results as the plots are located in mature communities with proximity to the subway stations.

Linn said the total supply for this quarter is 2,960 units, among which MTR Corporation’s (0066) Phase 2 of its Kam Sheung Road Station project will offer 1,290 homes.

The whole fiscal year is set to record 15,750 units for supply, exceeding the target of 13,200 by about 20 percent, she noted, adding that private projects accounted for 60 percent of supply, and 40 percent of homes are offered by the government land sale, MTRC, and the Urban Renewal Authority.