Hong Kong developers 'disadvantaged' by lack of a clear conservation policy

Private developers have no role in preserving heritage buildings and are left at a disadvantage by the absence of a comprehensive conservation policy, a young property tycoon says.

Lau Ming-wai, 34, who took over as chairman and CEO of Chinese Estates Holdings last year, made the remarks yesterday at a student forum on development and conservation.

Chinese Estates was at the centre of a major conservation row in the 2000s, when public pressure forced it and the Urban Renewal Authority to preserve part of the old Wan Chai Market instead of removing it completely for a housing development. The development was one of many in recent years to spark bitter protests and raise questions about whether the city was too quick to remove historic buildings.

"The government should lay out all the rules of the game for developers to follow," said Lau, who also chairs the government's Commission on Youth. "For example, you can set out all conservation requirements in the land lease when putting the land on sale. If a developer finds the requirements too harsh, he can choose not to bid."

Lau also said society should "discuss what conservation means", adding: "Keeping everything untouched is not a good solution. Conservation should not mean not tearing anything down."

He added: "It is not fair to ask a runner to run slower to take care of other contestants' feelings."