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Link DetailsLandowner compensation adequate (To watch the video with sign language interpretation, click here.)
Landowners will be adequately compensated should the Government invoke the Lands Resumption Ordinance to resume their land for public purposes, Secretary for Development Michael Wong said today.
Mr Wong was responding to reporters? questions on land supply measures announced in the Chief Executive's 2019 Policy Address, which include the resumption of private land for public housing and related infrastructure development by invoking the Lands Resumption Ordinance and other applicable ordinances.
He said: ?I think it is understandable that for landowners, they will be interested in getting a bigger ex-gratia payment or statutory payment for any land that might be resumed eventually by the Government, so I understand that.
?But if you talk about the existing system, from the Government?s point of view, we think the existing system adequately compensates the landowners for any land that might be resumed. You might be aware that under the current system, we are talking about, for land within Zone A, that is close to $1,400 per sq ft.?
Mr Wong made it clear the land resumed would be for public purposes only.
?We are not talking about commercial housing that carries a huge market value. After all we are talking about public housing and related facilities.? |
