By South China Morning Post | Created at 2025-01-17 13:21:47 | Updated at 2025-01-17 19:42:25
6 hours ago
The Hong Kong government will speed up the approval of private projects and related foundational works that have already been allocated funding to prevent the construction industry from shrinking.
The new measures were announced amid concerns from the construction and architectural sectors that repeated failed land bids had prompted some firms to lay off employees or force staff to go on unpaid leave last year.
“Buildings Department and Lands Department would speed up the approval of private construction,” the Development Bureau said on Friday on social media.
Meanwhile, the Housing Authority also reaffirmed its commitment to help low-income families provide affordable rental homes and help the lower- to middle-class with buying their own flats.
Secretary for Housing Winnie Ho Wing-yin said at the Housing Authority’s regular open meeting on Friday that there was significant demand from young people to buy flats, and the bureau would increase the ratio of subsidised housing in response.
In last year’s policy address, Chief Executive John Lee Ka-chiu said he would boost housing prospects for residents by pledging to review the supply in the second half of the coming decade, aiming to increase the proportion of public rental housing and subsidised flats from 70-30 to 60-40.
