Hong Kong plan to tap developers’ land reserves for homes receives first application

Nan Fung Development first company to submit proposal to Land Sharing Pilot Scheme, which began in May last year

Project in Tai Po will create 1,149 public housing and starter homes by 2025, while providing another 493 private flats by 2028

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Hong Kong has faced a housing crunch for years. Photo: Felix Wong

Published: 10:50pm, 22 Jul 2021Updated: 1:05am, 23 Jul 2021

A plan to tap into Hong Kong’s private developers’ land reserves has received its first application 14 months after it was launched, with plans to offer more than 1,600 flats, over half of which are for public housing.

Nan Fung Development is the first developer to submit a proposal to the Land Sharing Pilot Scheme, which began in May last year.

In a press release on Thursday, the Development Bureau said the project in Tai Po planned to create 1,149 public housing and starter homes by 2025, while providing another 493 private flats by 2028. A care home for the elderly will also be built.

The sites, located at Lo Fai Road and Ting Kok Road, cover about 3.2 hectares involving two lots owned by the company and adjoining government land. About 40 per cent is government land.

A panel of advisers from outside the government will consider the application within three months, examining the planning aspects and cost effectiveness.