Henderson chief to give land for flats

Henderson Land Development chairman Lee Shau-kee has offered two plots of farmland in the New Territories to the government to build affordable housing for young people.

"One is in Yuen Long and the other one is in Fanling," Lee said yesterday after an annual general meeting of Hong Kong and China Gas, an associate of his flagship Henderson Land.

On Monday, Lee, 85, revealed he was in talks to donate a Fanling site - one of seven sites he or Henderson Land had offered to the government. At the time, he said the Fanling site could yield more than 1,000 flats.

He clarified yesterday that the Yuen Long site, owned by his privately run company, would provide more than 1,000 flats, while the Fanling land, which was bigger, would produce more than 2,000 units.

The government was studying if the sites would meet town planning, transport and environmental requirements, he said.

It is unknown whether the bigger Fanling site is owned by Lee or his listed vehicle Henderson Land. But Lee had earlier said he would personally compensate minority shareholders if the company's sites were donated to the government.

The tycoon first publicly raised the idea of donating the land in January, saying he would be willing to build small homes on his land in the New Territories and sell them cheap to first-time buyers.