MTRC to build 18,000 flats over six years

Business | 16 May 2018 5:16 pm

MTR Corporation (0066), chairman Frederick Ma Si-hang, said today the company's residential property projects will provide 18,000 flats over the next six years.

He also said that construction of the project on the Ventilation Building site at Yau Tong is expected to be completed in 2025.

Speaking in response to concerns over the fare increase, Ma said the MTRC needs to maintain and upgrade railway facilities through stable cash flow.

He said the fare increase of 3.2 percent was much lower than the pay increases and inflation in Hong Kong.

"We are the only rail company in the world which pays dividends to the government instead of getting subsidies," Ma said.

The MTRC held its annual general meeting today and about 20 people protested aganst fare increases outside the venue in Kowloon Bay.

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