July 31, 2018
Fanling industrial site sold
The tender for a Fanling site has been awarded on a 50-year land grant for a premium of $732.9 million, the Lands Department announced on July 25.
Fanling Sheung Shui Town Lot No. 267 on On Chuen Street was awarded to Macro Topper, a subsidiary of Billion Real Estate Holdings. It has a site area of 3,765 sq m and is designated for industrial use.The minimum and maximum gross floor areas are 11,295 sq m and 18,825 sq m.
The Transport & Housing Bureau said recently there were 9,000 unsold units in completed projects at the end of June. The projected private flat supply for the next three to four years is 93,000 units, 3,000 less than the previous estimate.
There were 67,000 units under construction, excluding those pre-sold by developers, and 17,000 units from disposed sites where construction can start any time. The number of flats under construction in the second quarter was 9,000, while the number of units completed for the period was 5,000.
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