The tender for Yuen Long Town Lot No. 518 at the junction of Yuen Long On Ning, Tai Kiu and Yuen Long On Lok Roads was gazetted and will close on February 18.
     The 12,340-sq m lot will house 960 flats of 60 sq m, of which at least 800 units must have a saleable area of 35 to 40 sq m and at least 160 units must have a saleable area of 40 to 60 sq m.
     Secretary for Development Carrie Lam said this particular initiative is to increase the supply of small and medium-sized flats in Hong Kong and has no relevance to property prices.
     The sale conditions incorporate planning parameters and features that will ensure future development on the lot will have a positive impact on the built environment. A minimum greening ratio of 30% with at least half to be met at ground level has been specified to enhance the living environment and mitigate the heat-island effect. A minimum gross floor area of 5,000 sq m for retail use has also been provided for to enhance the economic vitality and vibrancy of the area.
     The new measures to foster a quality and sustainable built environment, such as the 10% overall cap for certain green and amenity features and the provision of an underground car park, have also been incorporated into the sale conditions.