Shek Mun residential site to yield 960 flats

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...