Decision to ditch flats for Hong Kong's elderly 'bewildering'
Housing Society accused of conforming to government's new housing policy after project ruled financially unviable after six years
Two sites designated for upmarket elderly flats are instead being returned to the government to help achieve its housing target because the six-year-old project was suddenly ruled "financially unviable".
The decision by the Housing Society to drop the project in Tin Shui Wai, Yuen Long, was described by real-estate professor Chau Kwong-wing as "incomprehensible".
Chau, of the University of Hong Kong, believes the move may have been influenced by the government's pledge to provide 470,000 flats in the next decade.
But a spokesman for the society insisted yesterday: "This is entirely a decision of the Housing Society without government interference.
"After prudent consideration, we consider that the financial and manpower resources saved from the project could be better utilised in other housing and social projects, including public estate redevelopment."
Chau said: "I don't think redeveloping public estates would be more financially viable. The challenges have been known for six years. However, the move is not surprising as building high-end flats is politically incorrect these days.