Chief Executive Carrie Lam released her maiden Policy Address which surprised the public with her plan to redevelop Wanchai North into a new convention facility together with hotel and Grade A office, a project that will not only strengthen Hong Kong’s status as Asia’s hub for convention and exhibition, but will also remake Wan Chai North as a prime office destination with its strategic location. Housing affordability remains one of the highlights with the introduction of the new “Starter Homes” scheme, while the resumption of revitalisation scheme for industrial buildings has not been put on the agenda.
The latest Flash Report published by Colliers International explores some of the key real estate initiatives in Carrie Lam’s Policy Address, including:
- The impacts of Starter Homes scheme
- The omission of the revitalisation scheme for industrial buildings
- The prospect of Wanchai North