Land reserve target and execution capacity

Land reserve target and execution capacity

The Government announced on the 20th of last month that it fully accepted the land supply strategy recommended in the report of the Land Supply Task Force at the end of last year and eight land supply options worthy of priority research and implementation. Subsequently, newspapers and different media mainly reported on different options, especially the recovery of 32 hectares of land at Fanling High Stadium. The Government’s response to the land supply strategy does not seem to receive modest attention. The formulation of the land reserve and the implementation of the infrastructure and capacity creation are of great significance to the future development of Hong Kong.

Although the establishment of the soil reserve has become the target of the government’s land supply strategy, the various land reserve targets will still be left to the expanded land supply supervision committee to re-evaluate the relevant requirements before it can be concluded. How to obtain the social identification will be a challenge, especially Land use that does not have market value. The specific land reserve targets will help stakeholders to advise on the progress of land development and make appropriate adjustments to the targets when necessary.

In recent years, the land supply of public and private residential units has just reflected the benefits of this approach. The formulation of relevant targets will help the parties to grasp the progress of their work and make judgments and appeals. In contrast, there is no government target for the supply of land for different types of industrial and commercial buildings, and there is no relevant supply data to reflect the progress. Examples include the large-scale commercial development project at the West Kowloon High Speed ​​Rail Station (294,000 square meters) which was originally scheduled for sale in the current financial year. It has been determined that it will be extended until the next financial year. The commercial land supply (including hotel use) for the next year is about 815,000 square meters of floor space. The annual supply is very large. If such supply can be supplied to the market at a relatively stable pace and on average, It will enable the market to better utilize resources and solve the serious shortage of commercial floor supply.

The Government has not developed land reserves. It can only use “demand management" to suppress demand, but it cannot speed up the supply of land. The use of the demand for supply is indispensable. Only after the government has established a suitable land reserve can the government alleviate the fear that the land supply will be in short supply.

The Land Supply Steering Committee will also undertake a mission to supervise the planning and provision of strategic transport infrastructure facilities in the form of infrastructure-driven development and capacity creation. Other work includes coordinating different policy bureaux, considering land use, transport facilities and other The decision to invest in infrastructure.

The future work test lies in the actual implementation capability and efficiency. If the two new development areas (Gukdong North/Fanling North and Hung Shui Bridge), which are now planned and will be carried out, are considered, their implementation may permit a measurement benefit. index. In addition, is the infrastructure scale of the two districts (especially the number of railway lines and stations) still likely to increase capacity, and can it bring flexibility to the government and private land outside the development zone?

Strategic transport infrastructure and large-scale development projects have received government attention. However, there are still many different land development projects in Hong Kong that need to be complemented by infrastructure services to release the potential of the land. These links also require the Government to create appropriate institutional considerations. Help with the promotion.