Reserved property scheme may become policy
Sales of plots to build flats for permanent residents will continue, perhaps long-term, minister says after strong developer response
The sale of land to build flats reserved for Hongkongers will continue and could become a formal, long-term policy, the development minister said yesterday.
The comment came a day after tenders for the first two sites offered under the "Hong Kong property for Hong Kong people" scheme, at Kai Tak, drew a strong response from developers, with 29 bids.
Speaking on an RTHK radio programme, Secretary for Development Paul Chan Mo-po said the response showed the demand for land sites remained strong.
Chan said the government was considering offering more sites, including some in the northeastern New Territories. The scheme might need to pass through the Legislative Council so the government could run it more effectively, he said.
"We're going to legislate the Hong Kong Property for Hong Kong People scheme to prove the government's determination to implement this scheme in the long run," Chan said after the programme.
"The recent two sites that we offered were under a pilot scheme. If we want to extend the scheme and build on it, we think it would be better if we go through a legislative process," he said.