Record-breaking housing initiative: HKHS to launch 8,000 units in 2025/26

The Hong Kong Housing Society (HKHS) is poised to unveil over 8,000 housing units for rent or sale in the fiscal year 2025/26, marking the highest rollout in its history, according to chairman Ling Kar-kan.

Among these units, 5,000 flats will be available for purchase, with 70 percent launched under the Subsidised Sale Flats Project. 

The remainder will be dedicated to rehousing efforts, as detailed during a media luncheon on Thursday.

In a commitment to enhance accountability, the society plans to intensify its crackdown on tenancy abuse. 
The society aims to expand the Well-off Tenants Policy to cover all 30,000 public housing tenants. 

Since the introduction of the anti-tenancy abuse policy in 2018, tenants have been required to regularly declare their income and assets, resulting in the reclamation of over 140 flats.

To streamline this process, the society is leveraging artificial intelligence to identify undeclared assets by analyzing tenant-owned vehicles. 

Also, a new reward scheme for reporting tenancy abuse will be launched on April 1, offering cash prizes of up to HK$3,000. 

The society received over 400 reports of suspected abuses in 2024, a significant surge from just 80 in 2023.

The society also provided updates on the construction of Hong Kong's first "generation-inclusive" shopping mall in Kai Tak, scheduled to open in 2027. 

This innovative mall is designed to cater to residents of all ages.

Currently, the society has more than 20 projects in various stages of planning or construction, with expectations to deliver around 17,000 homes over the next five years. 

Regarding its financial health, senior officials expressed optimism, projecting a profit for the 2024-25 fiscal year.

Seperately, the Lands Department yesterday posted resumption notices and acquisition notices to resume about 56 hectares of private land and acquire about 14.54 square meters of government land being occupied by two graves and four urns for the implementation of the Second Phase Development of the Yuen Long South New Development Area.

(Jamie Liu)