Update to land-premium costs indicate bigger things to come
On 31 March, the Development Bureau and Lands Department announced they would charge land premiums at standard rates for land exchanges.
This update affects applications for land exchange regarding sites in the remaining phases of the Kwu Tung North and Fanling North NDAs with the applicable standard rates valid throughout the application processing period up until 30 June 2023.
So what does this mean for developers and related stakeholders? Does it provide certainty, improve the processing times, or does it make everything more uncertain? Read our latest paper that provides an overview and examples of how this will play out in reality.