2024-04-30 28Hse Editor
Under the effect of the "Northern Metropolitan Area", Sun Hung Kai Properties, a "big landowner in the New Territories", directly benefited and applied to the Town Planning Board for the development of "Northern Metropolitan Area" land. After applying for 9,940 units and 14,565 units respectively in Kam Tin and Shek Wu Wai in Yuen Long, the developer applied for 2,477 units for two sites next to Fairview Garden yesterday. In other words, SHKP applied to the Town Planning Board to build nearly 27,000 units in the Yuen Long area in just one month, a number rarely seen over the years.
2477 units are planned to be built next to the Splendid Garden
SHKP's latest application site is located next to Fairview Garden in Yuen Long, and is divided into two application forms. Among them, the land to the north is currently located within the wetland buffer zone, which is relatively sensitive geographically. The site area is about 491,100 square feet. The application is to be rezoned from the "Recreation" zone to "Residential (Type C) 1". The proposed plot ratio is 1.23 times, of which the residential floor area is about 593,300 square feet. It is planned to build 9 blocks 3 to 16 High-rise building, offering 1,249 units with an average size of 475 square feet.
Another piece of land to the south does not belong to the wetland buffer zone. The site area is 467,800 square feet. It is currently located in the "Recreation" and "Residential (Group C) 1" zones, and is planned to be rezoned to "Residential (Group C)", which will be developed at a plot ratio of 1.28 times, and the residential floor space accounts for about 56.27% 10,000 square feet, 9 buildings with 3 to 16 storeys will be constructed, providing 1,228 units with an average area of 458 square feet.
Xindi: Increasing the potential of plot release
The applicant pointed out that the site is adjacent to the future Ngau Tam Mei Station, which has been unused for decades in the past. With the future development of the Northern Link and the “Northern District”, the area will be transformed. public transport-oriented development, and believes that the new plan echoes the government's housing policy.
SHKP further disclosed when responding to inquiries later that the two places plan to develop in phases, with a total of 18 residential buildings, and mentioned that they are "sweet land" and have been approved for low-density bungalow development in 2016. In response to the strong demand for housing in the society, changes in government planning and the latest progress of the Northern Link, it is necessary to appropriately increase the plot ratio. This rezoning application will provide small and medium-sized residential buildings, which can unlock the development potential of the land.
Looking through the information, SHKP submitted three applications to the Town Planning Board in May alone, all from Yuen Long District. The largest project is the Shek Wu Wai project, which provides 14,565 units. Another project is located in Tam Mei, Kam Tin, with 9,940 units. Together with the latest Ngau Tam Mei project, the three sites provide a total of 26,982 units.
SHKP's land bank is far more than the above three applications. According to its previous announcement, as of the end of last year, the land bank reached 57.8 million square feet, including about 23.6 million square feet of properties under development, most of which are from the New Territories. The project (about 9,700 units) has also completed the land premium. At present, there are 10,066 approved and pending uncompleted units, and the largest is Siu Hong No. 54District site, involving 4,585 units.
Phat Heung Maintenance Centre adjacent to Shen Qi Building
On the other hand, a consortium has applied for rezoning a piece of land to the east of Pat Heung Maintenance Centre in Yuen Long which is currently zoned "Agricultural" to "Residential (Type A) 1". It is a 17- to 22-storey residential building with a total floor area of about 505,000 square feet, providing 969 units with an average area of about 500 square feet. The applicant pointed out that the project is in line with the government's policy of actively increasing land supply.
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