HongKong

Hong Kong scheme to tap developers’ land reserves for homes receives first application



A scheme to tap into Hong Kong’s private developers’ land reserves has received its first application 14 months after it was launched, with plans to offer more than 1,600 flats, over half of which are for public housing.Nan Fung Development is the first developer to submit a proposal to the Land Sharing Pilot Scheme, which was launched in May last year.In a press release on Thursday, the Development Bureau said the project in Tai Po planned to create 1,149 public housing and starter homes by…



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