Government Property Agency
The Government Property Agency meets the needs of all bureaux and departments for joint-user general-use offices and quarters, manages government properties efficiently and cost effectively, and optimises the use of Government sites and properties.
A total of 59,000 residential units will be completed in the next three to four years, says Secretary for Development Carrie Lam.
Speaking at a radio talk show today, Mrs Lam said the supply comes from three sources - units which have been completed and are on sale already, those that are still under construction and those which are developed through lease modifications. The figure has already excluded uncompleted units which have been sold.
As many as over 9,000 units were developed through lease modifications last year. Sometimes a single large-scale project alone can give several thousands units, Mrs Lam added.
Using the average figure for the past five years, she expected more than 4,000 units will be developed or redeveloped in 2011-12 by private developers through lease modifications.
When asked about the possibility of private developers hoarding land, Mrs Lam said the Government imposes a building covenant in the lease conditions on land disposed of through land sales, lease modifications or land exchange. Developers are required to complete construction within a specific period and so hoarding is not possible.
With regard to the limited land supply for offices in Central, she said organisations can diversify their office location choices and do not have to focus on Central only.
Mrs Lam cited a recent example in which a large insurance company chose to set up an office in eastern Kowloon. The Government also put down sites in Kwun Tong and Kowloon Bay for business and commercial use in this year's land-sale programme.
Talking about the Government's plan to move offices in the three Wan Chai government buildings, she said the Government Property Agency has been discussing with departments located in the three buildings to arrange a suitable and convenient new office location for public services.
A site under consideration is Kai Tak. The project on the government offices building there will start soon, Mrs Lam said, hoping it will stimulate commercial development in the district.
