MTR Corp will study residential development in other railway stations to increase flat supply, says property director

As property director of Hong Kong’s subway operator MTR Corp since 2011, David Tang Chi-fai leads a team looking after 13 shopping malls, managing 96,000 retail units and the building of 28,000 flats – 18,000 for MTR and 10,000 for West Rail – through partnerships with private developers.

With the government holding a 75 per cent stake in the rail operator, it bears an important responsibility in helping ease the city’s housing shortage at a time when home price growth has shown no signs of slowing.

In the coming 12 months, MTR Corp plans to offer seven property projects for tender, the largest number in a single year for the rail operator. These projects will provide a potential 8,000 flats, about 42 per cent of the Hong Kong government’s target of 19,000 private flats in the year to March 2018.

Under Tang, MTR Corp has adopted flexibility in tendering for projects by breaking up mega-sized developments to boost the chances that the sites will sell out.

At the same time, he actively sought new development opportunities at the company’s railway stations and enhanced its leasing portfolio options including converting a lorry park in Tsing Yi and office floors in Telford Plaza in Kowloon Bay into retail spaces.

What railway stations have potential for residential development?