Financial Secretary Paul Chan today said the potential land supply for 2025-26 is expected to provide about 13,700 units, similar to the annual demand projected in the Long Term Housing Strategy.

Mr Chan made his remarks while outlining land and housing measures in the Budget this morning. He noted that the 2025-26 Land Sale Programme will cover a total of eight residential sites.

Together with railway property development, private development and redevelopment projects, and the Urban Renewal Authority projects, the potential land supply for the year is expected to be similar to the projected annual demand, providing about 13,700 units.

Mr Chan said the Government will not roll out any commercial sites for sale in the coming year. It will also consider rezoning some of the commercial sites for residential use and allowing greater flexibility of land use. Moreover, it will extend the deadline for completing in-situ land exchanges for commercial sites in the town centre of Hung Shui Kiu/Ha Tsuen New Development Area.

The Government will prepare land for the production of about 80,000 private housing units in the coming five years. About 65% of the land will come from the Northern Metropolis and the Tung Chung New Town Extension.

Housing supply

On public housing supply, the Government has identified sufficient land to meet its supply target of 308,000 public housing units over the next 10 years.

Coupled with Light Public Housing, the total public housing supply in the coming five years will reach 190,000 units, which is about 80% higher than that for the first five‑year period from when the current‑term Government took office.

On private housing supply, it is estimated that the completion of private residential units will average more than 17,000 units annually in the coming five years, representing a decrease of about 8% over the annual average of the past five years. The potential supply of first‑hand private residential units for the next three to four years will be around 107,000 units.

Transport infrastructure

The Government will strive to commence detailed planning and design for the South Island Line (West) project this year.

Construction works for the remaining sections of Route 6, namely the Central Kowloon Route, Trunk Road T2, and the Cha Kwo Ling Tunnel, are entering the final stages. The Central Kowloon Route project is expected to be completed by the end of this year, and Route 6 will be fully commissioned next year.

Professional development

The Financial Secretary said $15 million has been set aside over the next two years for the Centre of Excellence for Major Project Leaders and its work to enhance professionalism, innovation capabilities and cost management in the construction industry.

To attract more young people to join the industry, the Government and the Construction Industry Council (CIC) will jointly allocate funding totalling about $95 million to continue the provision of on-the-job training subsidies to trainees enrolling in part-time construction-related degree programmes over the next two academic years.

The CIC will allocate around $150 million to subsidise the construction industry to provide on‑the‑job training for graduates of degree programmes in engineering, architecture, surveying, planning and landscape architecture.