Hong Kong Park in Hetao Co-operation Zone: $3.7 billion earmarked to expedite Phase 1 infrastructure and public facilities; identify suitable land parcels for private development proposals this year
San Tin Technopole: HKSTPC is expected to complete master planning study in third quarter of this year
Large-scale land disposal: Begin tendering work for 3 pilot areas from second half of the year
Data facility cluster at Sandy Ridge: Re-zoning procedures expected to be completed in mid-2025
Convention and exhibition facilities: Identify suitable sites for developing convention and exhibition facilities
Railway development: Conduct investigation and design study of the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu – Qianhai), and detailed planning and design of the Northern Link Spur Line this year
Land
About 13 700 units from the 2025/26 Land Sale Programme (8 residential sites), railway property developments, URA projects and private development and redevelopment projects
No commercial sites will be put on sale in the coming year
Consider re-zoning some commercial sites to residential sites, and allow more flexibility of land use
Postpone the completion date for in-situ land exchange of commercial site in Hung Shui Kiu/Ha Tsuen New Development Area
Make available land for about 80 000 private housing units in the coming 5 years
Housing
Public housing: Total public housing supply will reach 190 000 units in the coming 5 years
Private housing: Completion of over 17 000 private residential units annually in the coming 5 years. Expected first-hand private residential unit supply to be about 107 000 units over the next 3-4 years
Infrastructure Development
Set aside $15 million for the Centre of Excellence for Major Project Leaders to enhance professionalism, innovation capabilities and cost-effective management in construction industry
Funding of about $95 million from the Government and CIC to provide on-the-job training subsidies for trainees enrolled in part-time degree programmes
CIC to allocate $150 million to subsidise the construction industry’s on-the-job training for graduates of degree programmes in engineering, architecture, surveying, planning and landscape architecture
GBA Standards for the first pilot construction trade to be announced
