The Hong Kong Government announced that a residential site in Tung Chung, namely Tung Chung Area 122, will be handed over to the Hong Kong Housing Society for the development of subsidised sale flats.
Tung Chung Area 122 was originally one of the government sites selected for tender under the Private Sector Participation Scheme for Subsidised Sale Flats, also known as the “Happy Homes Scheme”. The site is now transferred to the Hong Kong Housing Society for development as its subsidised sale housing project, which is initially expected to provide approximately 1,600 subsidised sale units in the 2031-32 financial year.
The Housing Bureau stated that the government has been making pragmatic adjustments to the development arrangements for different sites based on social needs and actual circumstances. The Hong Kong Housing Society is an important partner of the government in housing policy and has rich experience in developing subsidised sale flats.
After reviewing the latest situation, the government believes that handing over Tung Chung Area 122 to the Hong Kong Housing Society for development can expedite the completion of subsidised sale flats.
In June 2023, the government announced the policy framework for the “Happy Homes Scheme”, which aims to make the best use of market forces to increase the overall development capacity. At present, the government is closely monitoring market developments, reviewing whether it is necessary to appropriately adjust some key parameters of the “Happy Homes Scheme” according to market conditions, as well as the tender arrangements for other future “Happy Homes Scheme” sites, and will announce the results in due course.
The Housing Bureau added that handing over Tung Chung Area 122 to the Hong Kong Housing Society for constructing subsidised sale flats is aligned with the government’s policy objectives of increasing the supply of subsidised sale units, helping grassroots families purchase homes, and encouraging upward social mobility. It is believed that the public will welcome this initiative.
