Hong Kong must stand up to the Link Reit for the sake of grass-roots families in public housing
Albert Cheng says vulnerable public housing residents are paying the price for the listing of the Link Reit. Concerned politicians should seek a judicial review over possible land lease violations and the government could offer ancillary amenities to those most affected
Carrie Lam to Link Reit: abide by land lease conditions and uphold good practices
The government’s approval of the listing of Link Reit was a mistake. Now that the company has turned into an uncontrollable monster, the politicians and media who supported that decision should be held accountable.
The situation, though undesirable, is irreversible. It would indeed be a stupid move to buy back the Link Reit, as it would only benefit its resourceful investors. The Link Reit has switched its mode of operation from running as a trust to real-estate speculation.
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The focus of the drama, however, should have been on the egotistical act of the Link Reit, with no regard for the government of Hong Kong or its lawmakers.
Link Reit is a privately owned and listed company, and the government is not allowed to interfere in the operation of private companies due to the free-market policy.
Counting the cost of the Hong Kong government’s deal with the Link Reit on malls and markets
The recent media headlines on the issue have not sparked much of a public outcry, as society has been polarised in a way. Some of the malls owned by the Link Reit have been nicely renovated and are providing a more convenient living environment for the upper-middle class. The company’s actions have become an issue that affects only the grass roots, who have the least or no bargaining power.
If the politicians, especially the pan-democratic parties, have concerns over the Link Reit issue, this should be proven by real actions. They should seek a judicial review on whether it is violating its land leases, so that justice can be upheld and done to the people whose livelihood has been affected.
Meanwhile, Lam should uphold Section 4 of the Housing Ordinance, to secure the provision of the ancillary amenities needed by public housing tenants. This may include providing rental discounts to welfare groups, launching free shuttle bus services, and operating markets and other facilities for people’s benefit.
Albert Cheng King-hon is a political commentator. [email protected]