1 residential site set for sale

October 4, 2024

Secretary for Development Bernadette Linn:
In the third quarter, we will put up for tender two sites, namely one residential site in Tai Wai, and a site in Hung Shui Kiu for development of multistorey buildings for modern industries. I will first briefly introduce the residential site. The site is located in Mei Tin Road in Tai Wai, and it is expected to provide a supply of about 360 flats. 

Upon completion of the relevant studies, we find it appropriate to include this site in the land sale programme and put it up for tender in this quarter, having considered market response to the sale of residential sites in Sha Tin in the first two quarters, as well as developers' greater interest these days in smaller-scale sites well served by transportation network and amenities.

In addition, the MTR Corporation Limited (MTRCL) plans to tender in this quarter its development project in Tung Chung East Station, bringing about 600 flats. In view of market response, MTRCL reduced the development scale of this package to half its previous scale when it first tendered the site in October 2023.

As for private development and redevelopment projects, three projects are expected to complete their lease modifications in this quarter, providing a supply of 1,235 flats. The majority of these comes from a relatively large-scale in-situ land exchange application in Fanling North New Development Area.

The total private housing land supply in the third quarter will support the development of around 2,200 flats. Together with the supply from the first two quarters, the total supply for the first three quarters of this financial year is expected to support some 6,470 flats, which is close to 50% of our annual supply target of 13,200 flats.

Regarding the industrial site, we will roll out shortly a site in Hung Shui Kiu for development of multistorey buildings. We will continue to adopt the two-envelope approach for the disposal of this site.

(To watch the full media session with sign language interpretation, click here.)

Secretary for Development Bernadette Linn today announced that the Government will put up for tender a residential site in Mei Tin Road in Tai Wai, providing a supply of about 360 flats.

Unveiling the Land Sale Programme for the third quarter of this financial year, Ms Linn said the Tai Wai site was not listed on the 2024-25 Land Sale Programme when the Government announced the annual sale plan in February.

“Upon completion of the relevant studies, we find it appropriate to include this site in the land sale programme and put it up for tender in this quarter, having considered the market response to the sale of residential sites in Sha Tin in the first two quarters, as well as developers’ greater interest these days in smaller-scale sites well served by transportation networks and amenities.”

In addition, the MTR Corporation (MTRC) plans to tender in this quarter its development project in Tung Chung East Station, bringing about 600 flats.

In view of the market response, the MTRC reduced the development scale of this package to half its previous scale when it first tendered the site in October 2023, Ms Linn added.

For private development and redevelopment projects, three are expected to complete their lease modifications in the third quarter, providing a supply of 1,235 flats. The majority of these come from a relatively large-scale in-situ land exchange application in the Fanling North New Development Areas.

Taking all sources of land into account, the total private housing supply in the third quarter will involve about 2,200 flats.

Together with the supply from the first two quarters of this financial year, the total supply of the first three quarters will amount to some 6,470 flats, which is close to 50% of the annual target of 13,200 flats.

Ms Linn also said the bureau plans to sell an industrial site by tender in the quarter.

“Regarding the industrial site, we will roll out shortly a site in Hung Shui Kiu for development of multistorey buildings. We will continue to adopt the two-envelope approach for the disposal of this site.”