Sun Hung Kai Properties Limited (SHKP) announced that it has submitted an application under the Land Sharing Pilot Scheme to the Development Bureau. The project will help unleash the development potential of land in the New Territories, providing more than 4,000 public and private housing units, of which over 2,600 will be public housing units. With the private and public sectors working together, the project will play a part in alleviating the short-to-medium-term housing supply shortage, improving the living conditions of people waiting for public rental housing, especially those living in subdivided flats or cage homes.

SHKP has been working on the proposal since the government unveiled details of the pilot scheme in early 2020, and has consulted relevant government departments on it. The land in the current application is near Tung Shing Lei, Yuen Long.  It is conveniently located, only about a 10-minute walk from Yuen Long Station,  and has a site area of nearly 59,000 square meters (approximately 630,000 square feet), of which about two-thirds (approximately 40,000 square meters or 420,000 square feet) are held by SHKP. It will provide a total of 4,090 public and private units.

SHKP hopes that the application will soon receive the endorsement from the Panel of Advisors of the Land Sharing Pilot Project and support-in-principle from the Executive Council. With both, SHKP will immediately start the necessary statutory and administrative procedures with an aim to complete the project at the earliest opportunity.

SHKP has always supported the government’s multi-pronged approach to increasing land and housing supply. The Group has been actively converting agricultural land into residential developments and always seeks to complete and launch its units for sale as soon as possible. SHKP believes that Hong Kong should follow a "dual track approach" – increasing the supply of both public and private housing for a better housing ladder to meet different housing needs.