Sun Hung Kai Properties says to lend farmland for transitional housing [Reuters]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: Reuters
Sun Hung Kai Properties says to lend farmland for transitional housing HONG KONG, Jan 10 (Reuters) - Hong Kong’s Sun Hung Kai Properties announced on Friday a plan to lease 300,000 square feet of land for HK$1 ($0.13) for housing, responding to government appeals for help to fix a housing crunch that has fuelled protests. The Hong Kong and Chinese governments have asked developers to help address Hong Kong’s housing shortage that has forced prices up to among the world’s highest and frustrated generations of young people who can only dream of getting on the property ladder. Officials say the frustration has contributed to months of anti-government protests and promised to address it. Major property developers including New World Development , Henderson Land Development and Wheelock and Co Ltd have donated land for social and what the government calls transitional, or temporary, housing. Sun Hung Kai Properties, the city’s largest developer by value, said on Friday its 300,000 square f
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