HONG KONG, Jan. 17(Xinhuanet)-- Hong Kong Director of Lands Patrick Lau said on Tuesday the total revenue from land premium for this financial year will be close to the estimated 31.9 billion HK dollars(4.12 billion US dollars).|
He said the number and size of sites to be included in the 2006-07 application list will be similar to the previous ones, according to a government press release on Tuesday.
Lau said the number of sites sold through auction so far this year was three, which is lower than expected. However, the revenuefrom real estate developers' land premiums doubled.
He stressed that there is a need to maintain a stable land supply, adding that the Real Estate Developers Association's request for more small and medium-sized sites on the application list will be considered.
Lau added that most of the small and medium-sized sites in urban areas are privately owned. The department will discuss the use of former government staff quarters in urban areas with the Government Property Agency and Civil Service Bureau. Enditem