Budget Speech

Building a Liveable City

Land Supply

144. The current‑term Government adopts a multi‑pronged strategy to actively expedite land supply for housing.  There has been a steady land supply for private housing development over the past five years, involving around 86 000 units.  It is estimated that the overall land supply in 2021‑22 can provide about 20 000 units, around 7 000 more than the supply target.

145. Looking ahead, the 2022‑23 Land Sale Programme will comprise a total of 13 residential sites and four commercial sites, capable of providing about 8 000 residential units and about 300 000 square metres of commercial floor area respectively.  With the residential sites under the Land Sale Programme, together with railway property development, private development and redevelopment projects as well as the Urban Renewal Authority (URA)'s projects, the potential land supply for the whole year is expected to have a capacity of providing about 18 000 units.

146. As for land supply for private housing development in the short to medium term, we will secure approximately 103 hectares of land in the coming five years, and make available to the market sites for the production of over 57 000 units through land sales or putting up railway property developments for tender.  Among such land, nearly 40 per cent comes from NDAs/New Town Extensions, another 40 per cent from other districts under the Government Land Sale Programmes, and the remaining from railway property developments in design stage.  The above figures have not taken into account URA projects and other private land development projects.

147. In the coming year, I will introduce various enhancement measures to expedite the process, optimise land use and promote the application of I&T in the construction industry, with a view to speeding up the use of land and housing production.

 

 

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