The Hong Kong government revealed on Friday that it will put nine residential sites up for sale in the coming fiscal year amid optimistic property market sentiment, with three from the Hung Shui Kiu pilot, which reflects the city’s commitment to developing the Northern Metropolis as a key growth area.
Secretary for Development Bernadette Linn Hon-ho said the total home supply is 6,650 units, among which the Hung Shui Kiu pilot will provide 3,120 units.
In the government's land sale list, three residential-use plots, including the Area 106A site in Tung Chung, the Cape Road site in Stanley, and the Clear Water Bay Road site in Sai Kung, are rolled over sites.
The other three new sites in the list are located at Fat Kwong Street, Ho Man Tin, the junction of Tai Chung Kiu Road and On Sum Street, Shek Mun, and the junction of On Sum Street and On Ping Street, Shek Mun, offering a total of 1,570 units.
She noted that the upcoming April-March period will launch the Area 106A site in Tung Chung, delivering 990 flats, as well as the Tuen Mun Area 16 Phase 1 residential site, which is expected to offer 5,510 units.
The whole next fiscal year is set to record 22,580 units for supply, with nearly 70 percent, or 115,000, offered by the government land sale, MTR Corporation (0066), and the Urban Renewal Authority, Linn said.
She added that the private projects in the next five years will house 98,000 flats, among which half will be provided from the Northern Metropolis.
