WITH seven plots of Crown land already held back from public auction, the Government will have to come up with a tight schedule in order to sell the remaining lots within the fiscal year, analysts say.
More changes in the land sales programme are expected in the coming months as the Lands Department plans to put the withdrawn lots, except a site at High Street, Western, back on offer.
The High Street site will not be auctioned because of the failure to change its land use.
The other six withdrawn lots were held back mainly because of delays in preparation or site formation works, according to government officials.
Today, a tiny residential site in Lai Chi Kok Road, a commercial-residential lot in Shau Kei Wan and a residential lot in Tai Po will go under the hammer.
Analysts expect the three sites to fetch between $580 million and $700 million in cautious bidding, with the interest rate increase putting a further dampener on the market.