HONG KONG (May 18): Hong Kong real estate magnate Gordon Wu said an ambitious land reclamation project can help solve housing and social problems, while welcoming the enforcement of a national security law in the city as bringing stability to boost investment.
The 85-year-old billionaire chairman of Hopewell Holdings, who enjoys good ties with Beijing, said the Hong Kong government s Lantau Tomorrow project, which will cover an area about a third of the size of Manhattan, will increase land supply and make housing more affordable. To compete with others, our government needs to think high tech and every development needs land, he told Reuters in a recent interview. Our office prices can t be too expensive, and also the housing cost (must be affordable).
HK property tycoon Wu says land reclamation will solve social, housing woes
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Hong Kong home prices hit 20-month high
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Affordable housing in Toronto real estate should not come at the expense of the environment
The need for more housing supply has led to calls to cut red tape and build on green space By Radheyan Simonpillai
Google
Earlier this year, a housing report came out that listed Toronto among the least affordable real estate markets in the world.
The Demographia International Housing Affordability report put both Toronto and Vancouver among the top five.
The mediapounced on the ranking, sharing a report that echoed many middle-class voter frustrations with real estate affordability in Canada and feeding into the constant refrain we here from politicians that we need to fast-track development, despite the impact such decisions would have on the environment.