‘China’s Miami’ in Huizhou beckons to Hong Kong retirees 90 minutes away from border
- Huizhou in Guangdong province is 90 minutes from Kowloon, is being pitched as an option for elderly citizens seeking escape from Hong Kong’s hardships
- The city is riding on the crest of Beijing’s blueprint to transform the bay area into an economic powerhouse on its own
Better cross-border transport linkages, greater subsidies for elderly health care, and lower care facility costs across the border would attract more Hongkongers to the Greater Bay Area (GBA) city, according to Guy Lam Kwok-hung, chairman of CP Senior Care (Shenzhen).
“Hong Kong has the most expensive real estate in the world and some of the worst living conditions for elderlies in care homes,” Lam said in an interview. Access to hospitals and locally-registered drugs are some of the concerns that have pained retirees in the city, he noted.
The southern coast of Huizhou “truly has the Miami feel” given its subtropical location and long beaches on the southeastern US state of Florida, he added. At just HK$1,000 per square foot, local properties are much more affordable, giving it an edge over the Asian financial hub.
Lam’s business is part of his Dallas, Texas-based CP Holdings, which operates aged-care, assisted living residences and real estate in the US. His group has a 90 per cent stake in CP 18, a venture with developer Country Garden to provide similar services in the mainland market.