HKSAR gov't unveils 2020-21 land sale plan capable of building 7,500 flats

The Hong Kong Special Administrative Region (HKSAR) government plans to sell 15 residential sites capable of providing about 7,530 flats in 2020-21 fiscal year starting April.

Of all, five sites are rolled over from the previous fiscal year, according to the land sales program unveiled on Thursday by the Secretary for Development of the HKSAR government Michael Wong. The program also includes six commercial sites which can provide about 833,700 square meters of gross floor area.

Wong said the total potential private housing land supply in 2020-21 is estimated to have a capacity of producing about 15,730 flats, taking into account railway property development projects and private development/redevelopment projects.

The figure exceeds the official target of 12,900 flats for 2020-21.

The HKSAR government disclosed its housing supply target of 430,000 units for the coming 10 years in December, in which the public to private housing split is seven to three.

The government is firmly committed to maintaining a steady and sustained land supply through a multi-pronged approach to meet the housing and socio-economic development needs of the community, Wong said.