Policy Address

(B) Land Development

215. The Government must maintain an ample supply of land to meet the demand for major development projects, long-term economic development and the community's housing needs. Land reserve is similar to bank savings in that both are saved for use when needed. We will sustain efforts to produce and retain control over the supply of land. In parallel, we will improve the efficiency of land production and lower construction costs by streamlining approval processes, optimising administrative procedures, strengthening internal collaboration, applying technology, reviewing relevant standards and more, so as to safeguard public interests and meet development needs.

Build Land Reserve

216. In the next decade, the Government will get ready around 2 600 hectares of "spade-ready sites"¹³. Apart from meeting the development needs, this would also provide the necessary room for the Government to build up a healthy land reserve.