ebulletin

January 12, 2018
Hong Kong's land supply to tighten after target exceeded

Development Secretary Michael Wong recently said that the Hong Kong government will slow the release of land for tender in the coming three months as it has exceeded its target for the supply of new flats this financial year by 35%.
Wong said that the government will have provided land for 24,300 flats, including land sold by MTR Corp, the Urban Renewal Authority (URA) and private developers, for the financial year ending in March 2018.
Land at two residential sites, one in Kai Tak and the other in Tsing Yi, will be released for tender in the next three months, with an estimated supply of 1,600 flats. No land will be offered for tender by either MTR Corp, in which the Hong Kong government is the largest stakeholder, or the URA.