Peter Kammerer
Peter Kammerer
Opinion

SCMP Columnist

Shades Off by Peter Kammerer

There’s money in property, and that’s good enough for Hong Kong

  • Officials talk of diversifying the economy, but our tycoons, many of whom made their fortune in real estate, are admired for their success and indispensable to the government for their contribution to its coffers. Talk will remain just talk

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Far from suffering a shortage, Hong Kong has an excess of housing – to the tune of 248,000 surplus homes. Photo: Xiaomei Chen
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

Hong Kong’s solution to a housing problem that doesn’t exist: dump HK$1 trillion into the sea off Lantau

  • The government’s plan to create artificial islands off the coast of Lantau will cost HK$624 billion, but it habitually underestimates price tags on new projects by about 50 per cent
  • Still, the entire project is unnecessary – the city is not short of building land, nor is it short of housing. So how did Hong Kong end up in such a mess?

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Far from suffering a shortage, Hong Kong has an excess of housing – to the tune of 248,000 surplus homes. Photo: Xiaomei Chen
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