Justin Chiu calls for Hong Kong to explore new development areas and not rely solely on real estate

Hong Kong’s public finances have traditionally relied on land sales, but with a weak economic foundation, the real estate industry struggles, prompting the need to explore new development areas, said Justin Chiu Kwok-hung, executive director of CK Asset (1113), in an interview.
Chiu said the government’s recent crackdown on wealthy public housing tenants has led many of them to move into the private market, where they are renting or buying properties. 
Smaller and medium-sized units are expected to benefit the most, Chiu added.

(Melody Chen)