Solid foundation: Secretary for Development Carrie Lam says the Government will uphold the market-driven Application List system to ensure the property market's steady and stable development.

The 2009-10 Application List comprises 61 sites, 57 rolled over from the previous list and four new sites, Secretary for Development Carrie Lam says. 

The list takes immediate effect, offering 40 residential, 12 commercial or business sites, and nine hotel-only sites.

Interested parties can apply for 44 of the sites immediately, while the rest will be made available in the course of the year upon completion of necessary procedures.

Depending on the developments' actual design, about 10,500 to 11,000 units could be produced on the residential sites, a total gross floor area of 488,300 square metres on the commercial/business sites, and about 6,530 to 7,050 rooms on the hotel-only sites.

The four new sites include a residential site and a business site in Sha Tin, a Ma On Shan commercial site and a Tung Chung commercial site.

Sites removal

"We have removed from sale for the time being the Tsuen Wan Yeung Uk Road hotel-only site and the Sheung Wan Chung Kong Road commercial site in light of the relevant District Councils' views," Mrs Lam said. 

"We will undertake further work and discuss with the District Councils the appropriate development parameters for these sites."

Two residential sites originally included in the 2008-09 Application List - the sites at 81 Chung Hau Street, Ho Man Tin and Po Heung Street, Tai Po - are earmarked for alternative uses.

Mrs Lam said 15 sites rolled forward from the 2008-09  list have reduced development intensities, ranging from 8% to more than 50% cuts.

Hotel-only sites

Although none of the hotel-only sites in the 2008-09 Application List have been triggered, the pilot measure for hotel-only sites has been extended for another year. The same pilot arrangements will also continue to apply for cases subject to lease modification and land exchange for the 2009-10 Application List period.

"The pilot is generally welcome by the hotel and tourism industries. Since the announcement last year, we have engaged relevant stakeholders in preparing the appropriate requirements to be specified in the conditions of sale to ensure that the sites will be put to the intended hotel use."

Those conditions represent a pragmatic balance between providing hotel developers and operators with adequate flexibility to plan and manage the type of hotel according to market trends, and ensuring that the designated sites are put to their intended uses.

"That none of the hotel-only sites have been triggered might be a reflection of the economic downturn, rather than a lack of support for the pilot itself. To continue our support for tourism infrastructure, we consider it desirable to extend this practice for another year," Mrs Lam added.

Market-driven system

Reiterating the Government will uphold the market-driven Application List system to ensure the property market's steady and stable development, she said it will continue to provide sufficient land to meet the city's needs.

Although the property market outlook is uncertain, the Government will not sell its land cheaply, she added.