Housing Society to launch over 4,000 units as subsidized supply expands

The Hong Kong Housing Society will launch more than 4,000 residential units for sale or rent in the 2026/27 fiscal year, with subsidized sale housing accounting for 35 percent of the total, chairman Ling Kar-kan said on Tuesday.

The remaining units will be allocated to dedicated rehousing estates and senior citizen residence schemes.

Speaking at a media reception, Ling said the society entered a peak delivery phase a year ago. In the current fiscal year, three subsidized sale projects — Hemma Amber, Hemma Emerald and Hemma Fab — were fully sold out, offering a combined total of 2,026 units and reflecting strong market demand. He expressed confidence that the positive momentum would continue.

The society currently has more than 20 projects under planning or construction. Over the next five years, from the year 2026/27 to 2030/31, more than 15,000 units are expected to be delivered.

Given the sizable construction pipeline, Ling said the society will review project priorities and resource allocation to ensure commitments remain manageable and housing supply aligns with social needs.

In response to sustained demand for subsidized sale housing, the society will moderately increase the proportion of such units in projects still at the planning stage. This includes the A Kung Ngam Road project in Shau Kei Wan, which will be converted from a rental estate to subsidized sale housing and is expected to provide more than 500 units.

“We will summarize the experience of launching dedicated rehousing estate projects in the past two years and review the demand for sale and rental units,” he said.

Ling also said 400 units have been reserved for Wang Fuk Court residents for priority long-term resettlement, though specific details and unit sizes are still under study.

Temporary accommodation facilities, including Eminence Tower and Yue Ying Lau, are expected to continue providing resettlement options for residents for another two to three years.

Ling added that following the securing of a syndicated loan in 2024, the society’s cash flow remains stable and healthy, and no large-scale borrowing will be required over the next two to three years.

On the disposal of non-core assets, he said higher-quality assets had already been sold, generating between HK$1.5 billion and HK$1.6 billion. These included shopping centers, street-level shops and parking lots. The society will continue to divest non-core assets but is not under pressure to sell, he added.