25 September 2014 - The HK Government announced yesterday that six plots of land will be put up for tender in the fourth quarter of 2014 to address growing home demand. Combined with sites offered by the MTR Corporation (0066) and the Urban Renewal Authority, a total of up to 6,700 units could be built if bids are successful.
Secretary for Development, Paul Chan Mo-po, said that the sites will include residential plots in Ma On Shan, Tuen Mun and Kwai Chung.
Two MTR Corporation plots are expected to provide for the construction of 4,600 units (70% of the total potential during the Oct-Dec period). The risk of failed tenders may cut down the number of units to supply in the next quarter.
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