The Lands Department of Hong Kong: Revenue from land premium in the first quarter is approximately HKD 2.1 billion, a quarterly decrease of 41%

The Lands Department announced that the total land revenue from land transactions from January to March this year was approximately HKD 2.1072 billion, a quarterly decline of 41%.

The department reported that during this period, a total of 13 contract amendments and 2 land exchange cases were registered at the Land Registry, of which 3 were technical contract amendments that did not involve additional land premium amounts. Among these, 1 was located on Hong Kong Island, 10 in Kowloon, and 4 in the New Territories. These figures do not include small house cases.

During the quarter, 10 sites were granted through private agreements. Among them, 1 site in Ho Man Tin was designated for university development; 1 site in Tung Chung was designated for a power substation; 1 site in Kowloon City was granted to the Urban Renewal Authority for residential development; 1 site in Tuen Mun was granted to MTR Corporation (00066.HK) for residential development; and the remaining 6 sites were granted to the Hong Kong Housing Authority for public housing development