Ning Hanhao: Potential land supply in the new fiscal year exceeds 22,500 units, with 70% led or coordinated by the government

The government recently announced the land sale schedule for the 2026/27 fiscal year, which will introduce 9 residential land plots, providing approximately 6,650 units in total. Among them, 3 plots located in the Hung Shui Kiu/Sha Tsui new development area will provide about 3,120 units. Bidding for these plots was conducted last year, and the Secretary for Development, Ning Hanhao, explained that due to the longer bidding period for these plots, the deadline for bids will be at the beginning of July this year, thus they will be counted in next year's supply.

Additionally, 3 of the newly added residential plots are located in Ho Man Tin and Shatin Shek Mun, both of which are medium-sized plots in mature communities originally planned for "government, institutional or community" or "commercial" use. The authorities are gradually changing their designation to residential use through relevant town planning procedures. The remaining 3 plots are carried over from the previous year, located in Stanley, Tung Chung, and Sai Kung.

Ning Hanhao stated that the potential land supply for the entire year is expected to support the construction of about 22,500 units, with more than 15,000 or 70% being government-led or coordinated projects. In the long term, the authorities will prepare land for approximately 98,000 private housing units over the next five years; in terms of units, about half will come from the Northern Metropolis area.

She also mentioned that in the first quarter of the new fiscal year, from April to June this year, there are plans to launch land in Tung Chung Area 106A, which can provide about 990 units, while the nearby transportation facility, Tung Chung East Station, is expected to be completed in 2029. At the same time, MTR Corporation (00066.HK) will also consider launching the Tuen Mun Area 16 Station (Phase 2) project in the first fiscal quarter, providing about 5,500 units; if including another smaller project providing 175 units, the first fiscal quarter is expected to have about 6,675 units available