Sun Hung Kai to build temp homes on farmland

Sun Hung Kai Properties (0016) said it will build transitional housing on three plots of farmland, making it the latest major developer to chip in after Beijing cited housing woes as one of the major reasons for Hong Kong's unrest, RTHK reports.
SHKP said the Hong Kong Anglican Church will pay a symbolic HK$1 to operate 1,600 units at a 300,000 square foot site in Yuen Long Tung Tau.
Construction is expected to be completed in 2022, SHKP, said.
The company, which did not reveal the cost, added that it is also seeking partners for two other projects in Kam Tin and Kwu Tong.
Executive director Adam Kwok said he hopes the projects will help improve the lives of the grassroots community.
Last month, Wheelock announced that it would lease several plots in Tai Po, Tuen Mun and Tung Chung for the same token fee of HK$1 to two non-profit organizations, so they can build some 2,000 transitional homes.
The developer said the units would be able to house more than 6,000 families over eight years.
New World Development and Henderson Land had earlier made similar moves.
With the number of people in the queue for a public flat growing, Chief Executive Carrie Lam announced in her last policy address that the government aims to secure 10,000 transitional homes over the next three years.