Hong Kong leader Carrie Lam to pledge bigger share of public housing on newly created land
City leader hopes to sell controversial plan for reclamation by raising share of funded homes on new sites from 60 per cent to 70 per cent
Hong Kong’s leader is expected to announce that the share of newly created land set aside for public and subsidised housing could be as high as 70 per cent.
A person familiar with Carrie Lam Cheng Yuet-ngor’s preparations for her policy address on Wednesday said the plan was a response to growing demand for public housing amid rising property prices.
The principle will apply to residential developments on newly reclaimed land, and housing built through public-private partnerships on New Territories farmland held by developers.
“But the proportion of public-sector housing on existing sites will remain largely at 60 per cent because planning processes have already started and it’s not feasible to make drastic changes,” the source said.
Lam suggested such a rise – from 60 per cent to 70 per cent – in July.
Reclamation will be a key plank of the chief executive’s housing strategy, set to be revealed on Wednesday. The Post reported earlier that Lam would try to sell the controversial policy by pledging to use more of it for public housing.
The source said: “After weighing the pros and cons, raising the proportion of public-sector housing on newly created land will meet the demands of the majority of people in the city. Of course, the fundamental solution to the housing problem in the city is to boost land supply in the long run.”