Explainer | Hong Kong’s housing crisis: what you need to know about a new public-private partnership to tackle the problem
- Housing minister Winnie Ho says developers could help boost construction capacity and efficiency, as well as unleash private land potential
- New scheme receives cautious welcome, but expert says market assessment and more details needed
Housing authorities in Hong Kong have unveiled the Private Subsidised Sale Flat – Pilot Scheme, designed to restart a public-private partnership with developers to build affordable homes for middle-income buyers.
The Post looks at why the administration has embraced the private sector again and how the new scheme differs from similar attempts at cooperation.
1. Why invite private developers to help?
Lee said at the time that Hong Kong needed to tap into market forces and promote public-private partnerships.
Secretary for Housing Winnie Ho Wing-yin explained on Tuesday that working with private companies could help boost construction capacity and efficiency, as well as unleash the development potential of private land.
Three government sites have been identified under the new scheme and two, in Tung Chung and Chai Wai, will be put up for tender by the end of the financial year.
