Hong Kong developers may apply to build estates mixing private and public housing after three applications were approved
Authorities
have given the greenlight to three housing projects under a pilot
scheme launched by former chief executive Carrie Lam in 2019
The government is still considering two other applications under the Land Sharing Pilot Scheme
More
Hong Kong developers may apply to participate in a government pilot
scheme aimed at using private land for public housing after authorities
endorsed three applications, which aim to build a total of 21,600 flats,
with 15,100 for public housing.
The
three applications made under the Land Sharing Pilot Scheme involved
sites in Yuen Long and Tai Po districts, and were endorsed by the
Executive Council, a key decision-making body. A panel of advisers
established by the government under the pilot scheme earlier backed the
proposals.
One
of the applications, jointly made by Topwood, Success King and Richduty
Development, which are all under Sun Hung Kai Properties, seeks to
build about 1,870 public housing or starter flats and 1,260 private
homes on a site on Ho Chau Road in Yuen Long, covering a total gross
floor area of about 133,400 square metres (1.4 million square feet). The
panel said the proposal struck a balance between housing demand and
conservation.
Another
application, for a 19.3-hectare site (47.7 acres) on She Shan Road and
Lam Kam Road in Tai Po, was made by Ocean Target Enterprises of
Henderson Land Development and Gettenwood Company and Fullmark
Development, all under Wheelock Properties.
They
plan to build 9,190 public housing or starter homes and 3,640 private
flats with a total gross floor area of about 606,000 square metres. Both
sites are made up of private lots and adjoin government land.
The
panel said the scale of the project would allow the provision of more
government, institutions or community facilities to serve the residents.
The
third application, made by Busy Firm Investment under its parent
company New World Development, concerns a site on Long Ping Road in Yuen
Long for using the current green belt for residential purposes with
supporting facilities. The development, which covers a total gross floor
area of about 265,900 square metres, seeks to build 4,020 public
housing and 1,600 private flats.
The
panel said the project would help the transformation of brownfield
sites in the area and match with the housing estates in the vicinity.
The projects would have a total of 21,600 flats, 75 per cent of which would be public housing.
The
government has so far received five applications, with the other two –
from Nan Fung Development and Wheelock Properties – still being vetted.
A
Development Bureau spokesman said the scheme aimed to unlock the
development potential of private land in areas not covered by the
government’s planning studies or conservation areas, adding applicants
were still subject to town planning procedures.
“If the progress is smooth, it is expected that work may start from 2025 at the earliest,” the spokesman said.
Under
the scheme, owners of farmland can apply to the government to increase
the development density of their sites, but must set aside at least 70
per cent of the increased floor area for affordable public sector
housing. Applicants will be charged a premium.
In
return, the government will carry out infrastructural improvements to
enhance the development intensity of the private lots and speed up
various planning and project approvals. The scheme was expected to
identify 150 hectares for housing in three years.
The pilot scheme was set up by former chief executive Carrie Lam Cheng Yuet-ngor in 2019 as a way to help solve the city’s housing crunch, which she said was fuelling the social unrest that broke out that year. She appealed to developers to share their “social responsibility”.
At
that time, state media criticised private developers for hoarding land
and not developing their plots to meet Hong Kong’s housing shortage.
Panel
adviser Billy Mak Sui-choi, associate professor at Baptist University’s
department of finance and decision sciences, said the scheme might
attract more applications if it proved feasible.
“Now
that three applications have been approved, the city’s developers will
keep monitoring their progress. If they prove to be feasible and
profitable, developers may be attracted to submit more applications,” he
said.
Francis
Lam Ka-fai, vice-president of the Institute of Surveyors, said the
announcement was a step forward and might draw a few more applications.
But he said that the scheme would only be more attractive when the first batch of housing started construction.
“Developers
will observe how things go as it is just the beginning. Town planning
and lease changing process were still under the way. They also need to
know how much land premium they will be paying. There will be more
applications in the future provided that there are enough financial
incentives.”
Anthony
Chiu Kwok-wai, executive director of the Federation of Public Housing
Estates hoped that the government could speed up the process in the
future to encourage more developers to participate.
“The
scheme has already been around for some time. We hope more projects can
start soon to ease the public housing demand,” Chiu said.
Chan
Kim-ching, founder of the Liber Research Community, a local NGO
focusing on land and development, said developers would dominate the
planning of the area, including the infrastructure nearby, which might
not answer the society’s needs.
“Under
the scheme, the development density of private flats is increased, but
developers are subsidised to build infrastructure in the area by
enjoying land premium discount,” Chan said. “Developers are enjoying
more benefits than the public.”
(South China Morning Post)
九龍灣高銀金融國際中心出售一波三折，在早前遭接管後雖然成功以67億元獲投資公司購入，不過近日該公司入稟稱，接管人在11月1日通告終止協議並沒收訂金，要求法庭頒令賣方執行買賣協議。
HG房地產投資香港有限公司入稟稱，早前以67億元買入九龍灣高銀金融國際中心，並稱已支付訂金2.5億元。惟被告於本年11月初通知原告，會終止協議，並沒收訂金。
原告指，被告的做法是違反買賣協議，要求法庭頒令執行買賣協議，以及禁制被告出售涉案物業。
(經濟日報)
更多高銀金融國際中心出租樓盤資訊請參閱：高銀金融國際中心出租
更多九龍灣區甲級寫字樓出租樓盤資訊請參閱：九龍灣區甲級寫字樓出租
新世界5.25億 統一翠樺樓業權
西營盤高街120至122號翠樺樓，於昨日早上舉行強拍，最終由新世界 (00017) 或有關人士以底價5.25億元投得項目，成功統一業權，預計將會合併比鄰地盤重建。
項目早於1968年落成，現為1幢樓高12層的商住物業，當中地下為商舖，1至11樓每層設有4個住宅單位，地盤面積約4,967平方呎，擬以地積比率約8.3倍重建，總樓面面積約41,294平方呎。
(經濟日報)
