The Development Secretary, Bernadette Linn, announced on Friday that the government would be offering two land plots for tender in the upcoming quarter. These plots include a residential site in Tai Wai and an industrial site in Hung Shui Kiu near Tin Shui Wai.
The residential site located on Mei Tin Road in Tai Wai is projected to yield approximately 360 flats for development. Additionally, the MTR Corporation will be re-tendering its Tung Chung East Station project, but this time on a smaller scale compared to the previous tender in October. This project is expected to provide around 600 flats.
In total, the private housing land supply for the third quarter is estimated to support the development of about 2,200 flats. When combined with the supply from the first two quarters, the overall supply for the first three quarters of the financial year is anticipated to facilitate the creation of approximately 6,470 flats, which is nearly 50 percent of the annual supply target.
Linn also mentioned that a site in Hung Shui Kiu will be released for the construction of multi-storey buildings, with an extended tender period. The tender process for this site will involve a “two-envelope” approach, where tenderers must submit non-price and price information in separate envelopes.
When questioned about the absence of any commercial site offerings, Linn explained that this decision was made after taking into account the current market sentiment and the high vacancy rates for commercial sites in the area.
Overall, the government’s initiative to offer these land plots for tender aims to boost housing development and meet the growing demand for residential properties in the region. By strategically planning the release of these sites and adopting innovative tender approaches, the government is working towards achieving its housing supply targets and addressing the needs of the local population. Additionally, the emphasis on residential development reflects the government’s commitment to providing affordable housing options and promoting sustainable urban growth in the area.
