The Development Bureau has announced its land sale plan for this quarter, including the tender of a small-to-medium-sized residential site on Fat Kwong Street in Ho Man Tin, providing 250 units.
Combining MTR Corporation (0066), the Urban Renewal Authority, and private redevelopment projects, the total supply for the new quarter is 10,190 units.
Development Bureau Secretary Bernadette Linn Hon Ho said the Fat Kwong Street site has just been rezoned for residential use. The site is located in a neighborhood near Ho Man Tin MTR station and is believed to be well received by the market.
The MTR Corporation will launch the Phase 2 project for Area 16 in Tuen Mun this quarter, with an expected 5,510 units – a railway-plus-property development project under the Tuen Mun South Extension line. The Urban Renewal Authority has already invited tenders for the Bailey Street/Chiu Cheung Street project earlier this month, which is expected to provide about 1,220 units.
As for existing private land development and redevelopment projects, it is tentatively estimated that three projects will complete land lease modification procedures this quarter, providing a total of 90 units. In addition, three residential sites in the Hung Shui Kiu/Ha Tsuen New Development Area will have their tenders awarded by the end of August, and the more than 3,000 units from this area will also be counted towards this quarter's land supply.
Linn mentioned that approximately 12,430 units are expected to be delivered in the first two quarters of this financial year. This number does not include cases that don't require lease modifications this quarter. She also indicated that the private housing supply target of 12,600 units for the year might be achieved soon, with the possibility of exceeding the target by year-end.
