Lee Shau-kee proposes donating Shek Kip Mei site for low-cost housing

Tycoon Lee Shau-kee says he wants to donate a plot of land in Shek Kip Mei that could be used to build up to 5,000 subsidised flats.

It is the third site the Henderson Land Development chairman has proposed donating to the government after he handed over a 100,000 sq ft site to build the city's largest nursing home in Tuen Mun. Another proposal, to build 1,000 flats for young people on a 63,000 sq ft site in Yuen Long, is still being discussed with the government.

Without disclosing details, Lee said the site was owned and managed by a non-profit organisation in which he had served as a director for 20 years.

According to industry insiders, the site is now occupied by the 50-year-old Tai Hang Sai Estate, which is owned and managed by the Hong Kong Settlers Housing Corporation (HKSHC).

"The donation of the [Shek Kip Mei] site is only an idea at the moment. I will try my best to talk with my pals [on the corporation]," Lee said after the annual general meeting of Henderson Land companies yesterday.

"It will help to increase flat supply once the proposal materialises," he said, and pointed out the site could be used to build 4,000 to 5,000 Home Ownership Scheme flats.