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HK to increase land, housing supply to cool down property market

Posted on 28 February 2013

Hong Kong’s financial chief John Tsang said Wednesday in his budget speech that the city is to speed up the supply of residential land and private housing. “I shall continue with my co-ordination work to expand the land reserve as in the past two years. I shall also allocate additional resources to the relevant departments to increase their manpower in order to speed up land supply,” Tsang told lawmakers at the city’s Legislative Council.
Regarding land supply for private housing, Tsang said in the coming fiscal year, “all the major sources of land supply for private housing together will provide land capable of building some 25,800 private residential flats”………………………………………..Full Article: Source


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