Two More Sites Released For Private Housing

Development Secretary Michael Wong announced on Thursday that two sites up for sale for residential flats in the third quarter – one in Tai Hang and the other in Tuen Mun – will be able to realise 980 flats.

This will bring the total projected number of new flats coming into the market to 9,230 by the end of the third quarter – reaching 68 percent of the government's annual target of 13,500 new homes.

This figure includes a property project by the MTR in Tseung Kwan O that is expected to yield almost 3,000 private flats while another 100 new flats are from redevelopment projects.

Wong played down the effect of the ongoing protests on the real estate sector, saying the failure to receive a worthy bid for a Kai Tak commercial plot on Wednesday was not due to one reason alone.

“The economy also has been weakening and developers maybe risk-averse,” he said.