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Time to work together ¢w¢w developer deserves praise for land donation

¡iĶ¤å¡jNew World Development announced that it will donate a total of 3 million square feet of its farmland reserves for social housing to help alleviate housing problems in Hong Kong. As land and housing are long-standing issues that have been upsetting social harmony and stability, all sectors of the society must face up to the problem and be determined to resolve this deep-rooted conflict that plagues Hong Kong. It is worthy of recognition that a capable developer makes greater commitments to giving back to society, as it could drive the community to work together in solving land and housing issues. The government should encourage and assist fully the implementation of the land donation project, so as to benefit the grassroots as soon as possible.

Land and housing issues have become a considerable threat to social stability, giving rise to public grievances as they hinder Hong Kong's economic development and citizens' livelihood improvement. Land is the most valuable resource in Hong Kong. Effectively increasing land supply is the key to solving housing problems. As an important stakeholder in both the real estate sector and the society, property developers are in the same boat with all seven million people of Hong Kong. When the problem of land and housing is breeding serious disruption to law and order of the society and hindering the pace of development in Hong Kong, property developers cannot turn a blind eye to it and stand on the sidelines.

In its land donation scheme, New World Development will first offer three plots of agricultural land in Tin Shui Wai to a non-governmental organisation to build housing projects, mainly to help low-income families with children. This targeted approach to alleviating housing problems among middle and lower classes fully deserves credit. In the past, developers like Henderson Land Development have also donated farmland for the building of youth hostels and elder homes. Their actions were also well received by the society. It is hoped that their generosity will be continued. With property developers pioneering the fight against land shortage, twice the result could be yielded with half the effort.

Increasing land supply has been a top priority of Hong Kong. Yesterday, the Our Hong Kong Foundation has put forth a range of housing proposals, including "HDB flats for Hongkongers". This proposal calls for the reintroduction of the Tenants Purchase Scheme, the provision of rent subsidy and the provision of interest-free loans to young first-time buyers.

As the problem of land and housing has plagued Hong Kong for an extensive period of time, solution to the problem cannot be achieved overnight. Individuals and political parties alike should put forward practical suggestions and remain rational in any relevant discussions. Meanwhile, the government should listen, study, and respond to any constructive opinions in order to achieve a breakthrough. Just as the New World Development spokesperson said, companies have a social responsibility. New World Development is merely taking the first of many steps in finding Hong Kong a way out of the current land and housing deadlock.

As developers and other sectors are scrambling to increase land and housing supply, organisations have expressed concerns of business-government collusion and transfer of benefits. Some legislators also remained sceptical, apparently questioning whether the developer would obtain benefits from this donation. They said they do not object to developers repaying the society, but have nonetheless urged New World Development to disclose the exact locations of the three plots of land which are to be donated, and whether they own any land that is in close proximity.

New World Development made a statement shortly after, saying that they do not own any land that is immediately connected to the three plots of land to be donated, thus clearing any doubts of "transfer of benefits". If the society still does not set aside differences and continue to look at land and housing efforts irrationally, the dire situation that Hong Kong is now facing will become even more difficult to rectify.¡½Jeffrey Tse

Q&A

1. ¥ø·~ªÀ·|³d¥ô

2. «D¦È§Q¾÷ºc

3. «D¬F©²²Õ´

4. ¬J±o§Q¯q

5. §y¦a

Answer

1. corporate social responsibility

2. non-profit organisation (NPO)

3. non-governmental organisation (NGO)

4. vested interests

5. land hoarding

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