Fifteen residential sites up for launch

Fifteen residential sites - which can provide 7,530 buildable units - and six commercial sites will be launched in the next financial year.

Site 3 at New Central Harbourfront is also expected to be developed as a new landmark in Central.

Among the residential sites are five brought forward from the current fiscal year, including the plot located at Mansfield Road, The Peak, as well as 10 other new sites. Two of the plots are located in Kowloon and 10 are in the New Territories.

From April to June, two rolled-over sites - one at Ap Lei Chau Praya Road and the other Tai Po Ma Wo Road - will be offered for sale.

They are expected to provide a total of 1,370 units. Centaline Property valued the two projects at HK$6.67 billion in total.

Apart from the 15 sites for sale, railway property development projects will continue to contribute to the private housing land supply in 2020-21, said Secretary for Development Michael Wong Wai-lun.

The MTR Corp property projects - at Wong Chuk Hang station and Lohas Park - are estimated to provide a total of 4,050 flats.

"Taking into consideration the forecast land supply from private development and redevelopment projects, the total potential private housing land supply in 2020-21 is estimated to have a capacity to produce about 15,730 flats," Wong said.

The housing supply target for the coming 10 years is 430,000 units and the public-private housing split is 70:30, said Wong.

The target for the private housing land supply from various sources is 12,900 flats for the next financial year, 600 less than the current year.

Apart from residential sites, the government will put up for sale in the first quarter of 2020-21 one industrial site in Sha Tin which has an approximate gross floor area of 87,500 square meters.

The six commercial plots, meanwhile, will offer a floor area of about 8.97 million square feet. Three of them are in Kai Tak.

Wong expects a new landmark to be built on the strategic Site 3 at New Central Harbourfront, which has a large ground area and connects the Victoria Peak and the harbor area.

The site will be awarded based not only on the offering price but also the development plan and other illustrative materials, which should be submitted in a separate envelope, according to Wong.

He said the Development Bureau will consult the design of the development with the Harbourfront Commission and this will be announced in advance to provide transparency and certainty to the market.

stella.zhai@singtaonewscorp.com