More developers speak out

Top News | Cissy So 14 Aug 2019

A real estate association has placed a second advertisement in newspapers against violent protests, with 41 major developers banding together.

The first ad placed by the Real Estate Developers Association on August 8 was signed by just 17 developers.

The association said the escalation of violent acts goes against the rule of law.

"All violent acts happening in all districts in the past weeks have worried people - who are afraid of going out - and seriously affected their standard of living," the developers said.

"Acts like damaging the national flag had seriously touched the bottom line of 'one country, two systems,' which deliberately challenged the central authority and national dignity."

The association said it supported Chief Executive Carrie Lam and police to strictly enforce the law to maintain social order.

"Hong Kong and its people are always peaceful and anti-violence but a few radicals have an ulterior motive to damage social order."

The association said the economy has been declining since the beginning of the year, an could worsen if clashes continue.

It called on all sectors to communicate rationally to find a way out together.

It also hoped the government would speed up the pace of economic recovery and focus on accumulated social issues such as housing shortages.

The developers include Sino Land, Swire Properties, Henderson Land Development, New World Development and Hysan Development.

Sun Hung Kai Properties also published a statement saying the violent acts challenged the law and had seriously affected the economy and people's lives.

It said it supported Lam and police and called on protesters to be rational.

Meanwhile, Lui Che-woo, chairman of Galaxy Entertainment Group, said it was not for him to say if an independent inquiry commission should be established.

Lui, speaking to media after the group's announcement of its results, said the two sides could sit down and talk it out as no one wants to see the chaos continue.

The executive director of CK Asset Holdings, Justin Chiu Kwok-hung, said on radio that the economy is plagued by internal and external troubles and the unrest has affected people's consumption desire.

When asked if police were allowed to enter malls and residential buildings which are under the group to enforce the law, Chiu said that it depends on the property's title deed.

New World Development also released a statement saying it is saddened and worried about the violence.

Hong Kong's troubles are affecting all industries, especially tourism, catering and retail industries, it said, and he city's status as an international financial center is being threatened.

Editorial: Walking a fine line as business shrinks

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