The tender for the first privately-built subsidized sale of flats pilot project at Cheung Man Road in Chai Wan has experienced a failed tender. Secretary for Housing Winnie Ho said in a radio program today (July 27) that the site was attractive, but the challenging economic environment, including interest rates, and the restrictive tender conditions meant that although some developers expressed interest, the tender was not awarded.
"The Administration will collect different views and review the terms and conditions again, including examining the discounted price and whether there are other options for the site," Ho said.
Ho also noted that the Private Subsidised Sale Flat is not a large-scale project and only about 700 units will be provided.
"The unsuccessful bidding this time will not have much impact on the overall supply of subsidized housing in the next few years, and the average annual supply of subsidised housing in the next few years can be maintained at about 7,000 units."
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