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Wed November 14 2018

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Hong Kong tackles housing shortage

2 Jul Hong Kong’s chief executive has announced a package of initiatives designed to boost the number of homes available.

Carrie Lam outlined the six initiatives. One of them involves inviting the Urban Renewal Authority to assign a project on Ma Tau Wai Road as a starter homes pilot project to increase the supply of subsidised housing units. The URA will also reallocate nine sites earmarked for private housing in Kai Tak and Anderson Road Quarry - capable of providing about 10,600 flats - for public housing.

A task force will be formed to help and enable more non-government institutions in pursuing housing projects.

Lam said: "The new initiatives on housing announced today address some of the people's concerns, but we need to expand our developable land in order to significantly boost housing supply."

She said the government will endeavour to boost the supply of adequate and affordable housing to improve the living conditions of the people and rekindle their hope of home ownership.

It will announce the blueprint of identifying new land and releasing existing land for housing development soon, she added.

MPU

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