Page 27 - LH_Research_Report_2020_Eng

According to the 2018 annual report of the MTR Corporation and Government documents, there are only five
station packages that could become future land supply. Among these five, only three of them, namely Kam Sheung
Road Package 2, LOHAS Park Station Package 13, and Wong Chuk Hang Packages 5 and 6, have expected
tender award dates. The developments at Pat Heung Maintenance Centre and Siu Ho Wan Depot are still subject
to further review and no timeline could be known.
It should be noted that after the tenders for LOHAS Park Station and Wong Chuk Hang are awarded by 2021,
there will be a ‘land supply vacuum’ for at least three years until the tender for Kam Sheung Road Package 2 could
be awarded in 2024, assuming that Pat Heung Maintenance Centre and Siu Ho Wan Depot do not see major
breakthrough in their review progress.

The remaining landbank only consists of about a 15,300 units equivalent of land supply. It has been
reported that a subtraction substation in Tung Chung and a ventilation building in Tseung Kwan O are
currently under the consideration of being rezoned for topside residential development. However,
the number of units to be supplied from these two sites may be limited given their size of site area.
As there is no any other foreseeable major railway landbank in the coming decade, the railway
landbank should be gradually exhausted.

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