《Hong Kong Property Buildings》 Yuen Long and Hong Kong applications for nearly 5,900 private homes across two locations; the Town Planning Board rejects the objections submitted, involving two sites at Maipo Jinhong Road and the former Evergrande He Shengwei project.

The Planning Department earlier proposed multiple amendments to the 《Ma Po and Kam Sau Court Area Outline Plan》. The main change is to redevelop two parcels of rezoned land within the area to jointly provide 5,893 private residential units, including Sun Hung Kai Properties (00016.HK) +11.000 (+9.370%) shorting $102 million; this represents a ratio of 34.759%. The Yuen Long Ma Po Kam Sau Road residential and commercial project will build 2,322 units. The Oak and Sheng Wei projects will increase density to add 3,571 units. During the submission period, the Town Planning Board received 3 submissions with opposing or negative views; the Planning Department rejected the submissions. The Town Planning Board will hold a meeting on Friday (the 17th) to discuss.

The above amendments mainly concern Sun Hung Kai’s Yuen Long Ma Po Kam Sau Road site, and a residential site near Kam Sau Court that was previously submitted for 2,771 units but was rejected. In early last year, the proposal made a comeback with a new plan, such as reducing development density. It proposed a composite development with 10 residential buildings and 3 commercial buildings, providing a total of 2,322 units, which is 16% fewer than the previous plan.

Related content 《Street》BofA Securities: Hong Kong property stocks’ interim results are expected to remain steady; favours Sun Hung Kai Properties and Link REIT (00823.HK). The project site area is about 707.1k sq ft, including 994 sq ft of government land. The residential portion will be developed at a gross floor area (GFA) ratio of about 1.5 times. It was approved to build 10 buildings with 14 to 16 storeys of split-level residential units, providing a total of 2,322 units. The average unit area is about 456 sq ft, which is estimated to accommodate about 6,270 people, with total buildable GFA of about 1.06M sq ft. The non-residential portion will also be developed at a GFA ratio of about 0.5 times, to build 3 two-storey commercial buildings and government, institutional or community facilities, plus 3 one- to two-storey clubhouses, involving about 61.3k sq ft of non-residential floor area. In other words, the entire project can build total GFA of about 1.12M sq ft.

Another project is the Yuen Long Heung San Wai project, which was previously held by Evergrande and was taken over by Oak Capital in early 2022. In early last year, it submitted a new proposal to the Town Planning Board, significantly increasing the density for development. It will build 175 large-scale residential clusters, providing 3,571 units, which is 3.5 times higher than the plan approved in 2024. The total buildable GFA is about 2.90M sq ft.

The project site area is about 2,232.6k sq ft. The GFA ratio will be increased from the current 0.4 times to 1.3 times. The property height will increase from a maximum of 6 storeys to no more than 10 storeys, with one basement level. To develop 128 three-storey villas and 47 split-level residential units with 6 to 10 storeys, providing 3,571 units, with an average unit area of about 802 sq ft. This involves total buildable GFA of about 2.8616M sq ft and is estimated to house 9,998 residents in the whole project. There are also 4 two-storey clubhouses and 1 four-storey care home providing 100 care beds. For non-residential use, the floor area involved is about 40.9k sq ft. The project also has 2,782 parking spaces. The entire project will be developed in 6 phases, with completion expected by 2031.

Related content 《Street》Citi expects local developers’ interim business to improve; preferred picks are Swire Properties (01972.HK), Sun Hung Kai Properties (00016.HK), CK Hutchison (01113.HK) and Link REIT (00823.HK). During the two-month statutory exhibition period, the Town Planning Board received a total of 5 submissions. Of these, 2 were opposing submissions and 1 raised negative views. The Planning Department rejected the submissions, believing the outline plan should not be amended to accommodate them. The Town Planning Board will hold a meeting on Friday (the 17th) to discuss. (da/a)(HK stock quotes delayed by at least fifteen minutes. Short-selling data as of 2026-07-15 12:25.)