Cecil Chao: Hong Kong government needs more land for affordable homes

Hong Kong’s “playboy” property tycoon Cecil Chao Sze-tsung has called on the government to source more land to build affordable flats to ease the city’s housing crisis, even at the cost of private developers’ share of the pie.

Speaking to the Post in his palatial 16,000-square foot house named Happy Lodge in Pok Fu Lam, the 81-year-old chairman of Cheuk Nang Group, dubbed “playboy” for his numerous girlfriends, said he would “clap my hands and cheer the government” if it reserved between 70 per cent and 90 per cent of its land resources for developing public-sector housing, instead of 60 per cent at the moment.

“[Hong Kong] is definitely facing a housing crisis,” Chao said, sitting in the host’s position at his long banquet table that could seat up to 36 people in bespoke, elaborate high-back chairs. The shiny table, reflecting the dazzling chandeliers above has an ornate candleholder and a tall, emerald porcelain vase. The dining room opens to a balcony, from which Chao can survey his back garden with a swimming pool, as well as the East Lamma Channel and part of Lamma Island.

“People are living in very, very tiny spaces … If you build more public housing people will not be complaining. People are complaining not because they are poor. They can buy enough clothes … and the food is quite cheap. The main thing is housing.

“People take to the street because they have hardship in their lives, because they don’t live well, because they don’t have good housing conditions.”