Not enough commercial sites on the land application list, developer says
Developer Cheung Kong (Holdings) has called for the government to put more commercial sites on the land application list to cater to growing demand in the office market.
The resurgent economy prompted the capital value of offices to soar 57 per cent last year, according to Colliers International.
However, there is only one new grade-A office building due for completion this year - AIG tower - which offers a floor area of 340,000 square feet.
And only two of the 17 sites are marked for commercial use under the government's land application list, which sets out the plots available for sale up to March.
'Our view is that commercial sites are relatively scarce and the government should put more of these sites, such as for office buildings, on the land application list,' said Cheung Kong executive director Justin Chiu Kwok-hung.
