Ning Hanhao: The reference price for 3 plots of student dormitory land is based on dormitories, hoping to first understand market opinions

The Development Bureau invites the market to submit expressions of interest within two months for the development of commercial land located in Kai Tak, Sha Tin's Siu Lek Yuen, and Tung Chung East for post-secondary student dormitories; it is estimated that the three plots can provide approximately 4,500 bed spaces in total. The Secretary for Development, Ning Hanhao, stated during a radio program that the plan is to launch the land through public tender for the development of student dormitories. However, due to the current availability of different commercial land, the government will not sell it for now and hopes to first gather market opinions to understand if there is interest in bidding for the land to develop student dormitories.

She emphasized that the reference price set by the Lands Department is based on student dormitories and will not be priced as residential properties. She also mentioned that after the land is developed into student dormitories, the ownership cannot be sold separately, and the terms will be written in the land grant.

When asked about one of the plots being located in the more remote Tung Chung East, Ning Hanhao stated that Tung Chung East is a newly developed area, and the land is near the new MTR Tung Chung East Station, which is expected to open in 2029. She believes that places with direct MTR access will also be convenient.

As for the development model of student dormitories, she indicated that it is diverse and open. Earlier, the "City School Dormitory" program received over 20 applications to convert existing commercial buildings into dormitories, and the applicants are not universities but contractors and developers, who can apply first and then seek cooperation with universities