The Government has identified 150 residential sites which, if their statutory plans can be successfully amended, will provide about 210,000 public and private units in the next five years, Financial Secretary John Tsang has announced.
Delivering his 2014-15 Budget today, Mr Tsang said the 2014-15 Land Sale Programme will include 34 residential sites, including 24 new ones.
These will provide space for about 15,500 new units, meeting the average annual land supply target for private housing in the coming financial year.
The Government will also supply additional sites to the Housing Authority for building public rental housing flats and Home Ownership Scheme flats, to meet the target for public housing to account for 60% of new housing.
The authority must continue enhancing its cost-effectiveness and sustainability, Mr Tsang said, noting its estimated balance of $68 billion is enough to meet funding requirements for its development programme for the next four years.
Additional funding of more than $650 million will also be allocated in the coming five years to create 229 Government posts to enhance land-development efforts, Mr Tsang added.
