The government will put up a residential site in Shek Mun for tender this quarter, with an estimated yield of about 960 flats, the Development Bureau said on Thursday.

Secretary for Development Bernadette Linn said the site at the junction of Tai Chung Kiu Road and On Sum Street, is located near the Shek Mun MTR station in a well-developed community with both commercial and residential developments and comprehensive transport and amenities.

"The surrounding facilities and transportation infrastructure are fully developed, so we believe it will be well received by the market," she said.

Linn said she expects the third quarter alone to provide about 3,845 flats from private housing land, including the Urban Renewal Authority's To Kwa Wan Road project with about 1,050 flats, and seven private development or redevelopment projects completing land exchange or lease modification procedures, yielding about 1,835 flats.

Private housing land supply in the first three quarters of this financial year is estimated to reach 15,680 flats, already surpassing the full-year target of 12,600, she said.

But exceeding the supply target would not slow down the government's pace of land sale, she said, noting that the annual target is not a rigid indicator.

"Some projects coordinated and developed by the government – whether related to the advancement of the Northern Metropolis, development of railway properties, or urban redevelopment initiatives – have specific timeframes aligned with governmental policy requirements and the overall development of the respective areas," she said.

"Therefore, we will not simply slow down our pace just because we have met certain numerical targets."

She also noted that the market sentiment has been positive this year and developers are optimistic about the outlook, adding that there is demand for mature urban sites.

The bureau also announced that a site in Sha Tin will be tendered this quarter for a dedicated student hostel project under the "Hostels in the City" scheme.

Linn said the site in Siu Lek Yuen, near City One and Shek Mun MTR stations and close to several tertiary institutions, is initially estimated to provide about 600 hostel places.

She said the government would monitor the outcome before deciding whether and when to release two other reserved sites in Tung Chung and Kai Tak.


Edited by Aaron Tam