ENG-2020 — Page 232

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Planning, Land and Infrastructure

transparency and certainty for the market, and may add sites for sale in the course of a quarter in response to changing market conditions.

In 2020, 10 residential sites, one industrial site and four sites for petrol stations, totalling about. 9.8 hectares, were sold for about $38.8 billion. These sites were expected to provide about 4,920 private residential flats and up to 87,321 square metres of gross floor area for industrial or other economic uses.

Lessees of leased land, commonly known as private landowners, may apply to the Lands Department for a lease modification or land exchange so as to, for instance, redevelop the site based on the town plan. The department acts as a private landlord in considering such applications. Approvals are subject to terms and conditions that may include the payment of premiums and administrative fees. In 2020, the department concluded 68 such transactions, involving about 391.1 hectares and about $8.7 billion in land premiums, expected to provide 5,811 private housing flats and up to 120,337 sq m of gross floor area for commercial or other economic uses.

The Pilot Scheme for Arbitration on Land Premium, launched in 2014, seeks to facilitate early agreement on land premiums payable for lease modifications and land exchange transactions. Measures were introduced in October to promote the scheme's use to boost land supply. The scheme was also extended to October 2022.

Harbourfront Enhancement

In 2020, the government continued its efforts to link up sections of promenade, and provide public space, along the waterfront of Victoria Harbour. Sections connected in 2020 included those between Expo Drive East and the former Wan Chai Public Cargo Working Area, extending the longest stretch of promenade in Hong Kong to 5.5 kilometres.

In October, the Belcher Bay harbourfront open space in Kennedy Town opened, along with the first phase of 'K-Farm, an urban leisure farm combining hydroponics, aquaponics and organic farming.

As regards public works projects under the $6.5 billion dedicated harbourfront funding, public engagement was organised on the design of the harbourfront park in Sai Ying Pun in August, and works were gazetted for the proposed boardwalk under the Island Eastern Corridor in December.

Kowloon East

Kowloon East covers the Kai Tak Development Area and the Kwun Tong and Kowloon Bay business areas, and is being gradually transformed into CBD2. About 0.6 million sq m of commercial and office floor space will be provided in the next two years in addition to its existing supply of 2.9 million sq m.

Ongoing work includes improving the pedestrian environment and traffic conditions, enhancing the environment, increasing commercial land supply, and promoting vibrancy in the district through a 'place-making' approach. Kowloon East is also the pilot area for smart city

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