Gov to sell one residential site this quarter, optimistic about full-year supply goal

The Hong Kong government will put one residential site in Tsuen Wan for sale this quarter to provide 780 flats, while it expressed cautious optimism about meeting its annual private housing supply target.

Secretary for Development Bernadette Linn Hon-ho announced the land sale plan on Friday, confirming the tender for the Wing Shun Street site. The winning developer must allocate 940 square meters for social welfare facilities.

Combined with 4,170 units from six private development or redevelopment projects, the total second quarter supply reaches 4,950 units. 

Linn noted that first-half supply stands at 6,000 units—45 percent of this year’s target, prompting "cautious optimism" for full-year achievement.

There are six private projects in this quarter, including

• A 2,300-unit land exchange case in Hung Shui Kiu Area 34B
• One Kowloon site
• One Yuen Long agricultural plot conversion
• Three small-scale Kowloon redevelopments

Regarding land sale revenue, Linn cautioned that full-year income remains unpredictable due to variables beyond land sales, including land premium negotiations and waiver applications.

STAFF REPORTER