In "Hong Kong Property," Zhang Jingda from Centaline Property plans to launch two residential land parcels with an estimated value of nearly HKD 3.8 billion in the next financial quarter

The government announced the land sale plan for the fourth quarter of this fiscal year (January to March next year), which will launch two medium-sized residential plots located at Choi Ha Road in Ngau Tau Kok and East Street in Shau Kei Wan through bidding, providing a total of 670 units. Zhang Jingda, Executive Director of Centaline Surveyors, stated that both medium-sized residential plots to be launched next season are located in urban areas, with very mature surrounding facilities and proximity to railway stations, making transportation convenient and attractive. It is believed that they will be well received by the market, with a high likelihood of building mainly medium-sized units, and the total estimated value of the two plots is about HKD 3.79 billion.

Among them, the Ngau Tau Kok Choi Ha Road project has a site area of approximately 33,713 square feet, with a maximum buildable floor area of over 30,000 square feet, involving about 470 units. The plot is near Taikoo Shing and the MTR station, with an expected floor price of about HKD 8,000 per square foot, and the plot valuation is approximately HKD 2.43 billion. The Shau Kei Wan East Street project has a site area of approximately 14,521 square feet, with a maximum buildable floor area of over 136,000 square feet, involving about 200 units. This project is also close to the subway station, with an expected floor price of about HKD 10,000 per square foot, and a valuation of approximately HKD 1.36 billion.

The authorities expect that the housing supply for this fiscal year can reach 15,750 units, exceeding the annual target of about 13,200 units by about 20%. Zhang Jingda pointed out that the government's land sale progress is within expectations, as it had previously lowered the annual supply target, and with the recent continuous warming of the property market, the atmosphere for land sales has also improved, making it normal for supply to meet or even exceed targets