The Zhitong Finance App learned that Hong Kong Development Council Secretary Ning Hanhao met with the media at 4:30 p.m. today (July 10) about the land sale plan for July to September this year. Ning Hanhao said that in the new season, 1 residential site, that is, land on Foguang Street in Ho Man Tin, will be promoted to provide 250 units. In addition, the Hong Kong Government successfully sold a plot of land located in Tung Chung's 106A area from April to June. At the same time, it also recorded 4 private land housing developments, which are expected to allow 2,245 units to be built.
Ning Hanhao said that from July to September, the Hong Kong government will launch a small and medium-sized residential site located on Foguang Street, Ho Man Tin, Kowloon. The site has already been remodeled and is expected to provide about 250 units. The Hong Kong Government will require developers to provide a small amount of floor space for social welfare facilities while constructing private residences. Since the area where this land is located is a very mature residential community, the surrounding facilities are fully equipped, and it is also close to Ho Man Tin MTR Station, so I believe it will be welcomed by the market.
In addition, there are 3 “area” residential land plots located in the Hung Shui Kiu/Xiacun New Development Area on the government's land sale list this year, and it is estimated that a total of about 3120 units can be provided. The Hong Kong government launched a tender for this “area” at the end of last year. The tender for the project was closed last Friday, and a total of 2 tenders were received. The goal of the Hong Kong government is to approve tenders by the end of August this year, so the supply of more than 3,000 units in this “area” is also included in the supply from the government's land sales in the second quarter.
Ning Hanhao pointed out that in addition to land sales by the Hong Kong government, other sources of residential land this season include the following: First, the MTR Corporation will launch the Tuen Mun Area 16 Station (Phase II) project, which is expected to provide about 5510 units. It is a land approved by the MTR Corporation for the “railway plus property” development model for the Tuen Mun South Extension Line project. Furthermore, the Hong Kong Urban Construction Authority has just launched a tender for its Bailey Street/Zhejiang Street development project at the beginning of this quarter, that is, on July 3. It is expected to provide about 1,220 units. As for existing private land development and redevelopment projects, it is tentatively expected that three projects will complete the land lease revision process this quarter, providing a total of about 90 units.
Ning Hanhao summed up the above sources, including government land sales, MTR projects, municipal construction bureau projects, and private land development, and adding up all sources, the private housing land supply for the second quarter of this year is expected to support the construction of about 10,190 units. Combined in the first and second quarters, the private housing land supply for the first half of this year is expected to provide a total of about 12,430 units, which is very close to the supply target for this fiscal year.