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Hong Kong property
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Hong Kong property developers, blamed for the city’s housing crisis, cleaned up their act in 2021. Here’s how

  • Developers such as NWD, Henderson Land and Wheelock undertook housing projects aimed at lower income groups
  • Sino Group, Hang Lung Group and Li Ka-shing’s companies were among firms that launched schemes to encourage the uptake of Covid-19 vaccines

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Hong Kong’s Yuen Long district, with Shenzhen bay in the background. Applications for the city’s largest transitional housing project in the area, a joint venture between Henderson Land Development and Pok Oi Hospital, opened in October. Photo: Winson Wong
Martin Choi

They have been blamed for pushing the city’s home prices higher, leaving many unable to get on the property ladder.

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But, in 2021, Hong Kong property developers tried to change their image by introducing environmental, social and corporate governance (ESG) initiatives, such as social housing and other projects aimed at benefiting the wider society.

Here is a list of some major ESG projects undertaken by the city’s developers in 2021:

New World Development

New World Development (NWD) announced the launch of subsidised homes at discounts ranging from 40 to 50 per cent in December, aimed at helping lower income groups get on the property ladder.
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As part of New World Subsidised Housing, the developer will offer 300 one, two and three-bedroom flats on a site in New Territories West with a gross floor area of 130,000 sq ft to buyers who are permanent Hong Kong residents and first-time buyers aged between 25 and 45.

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Hong Kong has until 2049 to fix its housing crisis, but is it possible?

Hong Kong has until 2049 to fix its housing crisis, but is it possible?
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