Page 44 - Land2.5_EN_Final_C

Short to Medium-Term Direction:
Ways to Release Private Land Reserve

1. Reclamation will undoubtedly serve Hong Kong's long-term
social and economic needs. However, reclamation generally takes
a decade’s time. In the face of pressing housing needs and social
problems arising from high property prices, the government
needs innovative thinking to increase housing supply in the short
to medium term.

2. Currently, private land owners have a considerable amount of
land (mainly in the New Territories), but unfortunately develop-
ment of these sites is made di cult as a result of a lack of infra-
structure, town planning processes and determination of land
premium. A rough estimation shows that the land reserves of
three major developers measure close to 1,000 hectares.

3. OHKF believes that the government should promote public-pri-
vate partnerships with innovative thinking to increase housing
supply.

4. OHKF recommends the government to establish a mechanism to
collaborate with private land owners and provide policy support,
enabling them to utilise their land reserve for residential
development within designated areas. In the meantime, private
land owners are required to allocate certain portion of the said
land to the government for the development of subsidised sales
flats.

5. All such proposed public and private partnerships should be
designed with the sole objective of increasing overall housing
supply.

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