HK's total private housing supply for this quarter to top 10k units

The government is poised to roll out a small to medium-sized residential site in Ho Man Tin this quarter.

The plot of land is expected to produce 250 units.

Tallying up supplies from other tendered sites, the total private housing supply for this quarter will top 10,000 units.

The government reveals the annual supply will likely surpass the targeted number, but the pace of rollouts will not slow down.

Secretary for Development Bernadette Linn unveiled the land sale plan for July to September, with the rollout of a residential plot located on a small to medium-sized site on Fat Kwong Street in Ho Man Tin, which can yield 250 units.

Alongside the Hung Shui Kiu site that closed tenders last Friday, a total of 3,120 units will be awarded by the end of August at the latest and counted toward this quarter's supply.

With the MTRC poised to launch the Tuen Mun South Extension project this quarter, Tuen Mun Area 16 Station Phase 2 is expected to provide 5,510 units.

There will also be 1,220 units generated from the Urban Renewal Authority's Bailey Street/Chi Kiang Street project and about 90 units from private developments.

For this quarter, private development, URA redevelopment and MTR projects will altogether provide land for about 10,190 flats.

Including rollouts from the first quarter, the total exceeds 12,400 units -- close to the target of the year set at 12,600 units.

Development chief Bernadette Linn says as market transactions have become more active, developers are becoming more proactive in land bidding and launching private projects and the government will not slow down the pace of land rollouts.

BERNADETTE LIN: "We believe taken all sources together, for this quarter we already have quite a substantial turnout. So we believe rolling out one small site and that is in the Kowloon urban area should be something welcomed by the market."

The Fat Kwong Street site is located next to the Ho Man Tin Sports Centre close to the Ho Man Tin MTR station.

The government has earlier required the winning bidder to allocate a portion of the site for social welfare facilities.