Hong Kong 2003
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Land, Public Works and Utilities
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Land Disposal

All land within the HKSAR is state property, and the Government is responsible for its disposal and management. Government land for private development is normally disposed of by way of public auction or tender. Land is also made available by private treaty grant at a nominal land premium to non-profit making educational, medical and charitable institutions for operating schools, hospitals and social welfare and other community facilities. Land grants at full market value premium are made to public utility companies for their installations.

New government land leases are normally granted at a premium for 50 years from the date of grant and subject to an annual rent equivalent to three per cent of the rateable value of the property at the date of grant, adjusted in step with any changes in the rateable value thereafter.

As part of a package of measures implemented since November 2002 to restore public confidence in the property market, scheduled land auctions had stopped and the Application List system was suspended until the end of 2003.

Sites sold by public tender in 2003 included a heritage site for commercial development and preservation of historic buildings, with a total area of 1.23 hectares, and four sites, for petrol filling stations, with a total area of 0.8 hectares.

In addition to land supply from the Government, existing privately held land leases can be amended, normally at a premium, on lease-holders' initiatives to provide for a more intensive or different type of development in accordance with the prevailing planning intentions. These amendments are effected by either lease modification or land exchange. During the year, 152 such transactions were concluded, involving a total of 1 515 hectares.

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