logo
Hong Kong puts construction of 8,300 homes on hold in Fanling

Hong Kong puts construction of 8,300 homes on hold in Fanling

Hong Kong's housing authorities have suspended a key public residential development in a northern town consisting of 8,300 homes due to the suspected high costs of building the flats on deep rock strata, according to a lawmaker.
The suspension of the development, including its site formation and infrastructure works, in Fanling came to light on Sunday in a document the Housing Department and the Civil Engineering and Development Department submitted to the North District Council, a day before a meeting to discuss the matter on Monday.
The Fanling Area 17 site, spanning about 5.47 hectares (13.5 acres) of both government and private land, is located to the east of Ling Shan Road and Jockey Club Road, south of Ma Sik Road and west of Fan Leng Lau Road. It currently houses the Fan Garden Police Driving and Traffic Training Centre.
The document did not mention the exact reasons of the suspension but said: 'To align with the government's principle of maintaining sustainable public finances, the Housing Bureau has adjusted the development plan for the Fanling Area 17 public housing project after reviewing the cost-effectiveness of public housing initiatives over the next ten years.'
Authorities said they had 'more flexibility to prioritise sites that are more suitable and cost-effective for construction' with sufficient land supply for public housing in the next decade.
Lawmaker Edward Lau Kwok-fan, who is a member of the Legislative Council's housing panel, said the government's decision stemmed from geotechnical studies revealing unusually deep rock strata beneath the site, leading to significantly higher foundation costs.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hong Kong slams ‘smear campaigns' as Jimmy Lai returns to court for trial
Hong Kong slams ‘smear campaigns' as Jimmy Lai returns to court for trial

South China Morning Post

time4 hours ago

  • South China Morning Post

Hong Kong slams ‘smear campaigns' as Jimmy Lai returns to court for trial

The Hong Kong government has strongly condemned 'smear campaigns' by foreign forces and anti-China media companies in relation to the national security law trial of former newspaper boss Jimmy Lai Chee-ying, who returns to court on Thursday. Prosecutors and defence lawyers will make their final oral arguments in his high-profile trial . The closing submissions procedure will be the Apple Daily founder's last appearance at West Kowloon Court before the three presiding High Court judges reach a verdict on his case of conspiracies to publish seditious articles and collude with foreign forces. A government spokesman warned on the eve of the trial resuming that it was inappropriate for anyone to comment on details of the case in an 'attempt to interfere with the court to exercise judicial power independently, which might otherwise constitute perverting the course of justice'. However, external forces and anti-China media would 'still continue to distort the truth', he said. The spokesman noted that Lai's lawyers had previously clarified that the former media boss had received appropriate treatment and welfare in prison, while stressing the trial was based on the principle of the rule of law. Hong Kong law enforcement agencies had been taking actions strictly based on evidence, which had nothing to do with the political stance, background or occupation of the people or entities concerned, he added.

HKMA, HSBC allay concerns about Hong Kong's loan books amid city's property market slump
HKMA, HSBC allay concerns about Hong Kong's loan books amid city's property market slump

South China Morning Post

time4 hours ago

  • South China Morning Post

HKMA, HSBC allay concerns about Hong Kong's loan books amid city's property market slump

Hong Kong's de facto central bank and the city's largest lender have issued separate statements to assuage concerns about a glut in the commercial property market, saying that the local banking system remained robust and well-capitalised. Advertisement Risks associated with commercial real estate (CRE) loans were 'manageable', as the classified loan ratio – a measure of borrowings deemed substandard, doubtful, or at loss – shrank slightly to 1.97 per cent in the second quarter, from 1.98 per cent at the end of March, said Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority (HKMA). 'Hong Kong's banking system is well-capitalised and has sufficient provisions and good financial strength to withstand market volatilities,' Yue said in a blog post on the HKMA's website on Wednesday. Hong Kong's property slump, currently in its sixth year, has entered a new normal , as a confluence of factors from high interest rates and macroeconomic pressure to low demand amid an oversupply has weighed on the market. As prices and rents fell in residential flats, shops and offices, the value of loan collateral declined. Eddie Yue Wai-man, the Chief Executive of the Hong Kong Monetary Authority, on July 9, 2025. Photo: Elson Li Almost three-quarters of HSBC's Hong Kong commercial property loan book was flashing warning signs by the end of June, while the amount of loans bearing increased credit risk had almost tripled.

Hong Kong holds first meeting of new top-level anti-terrorism group
Hong Kong holds first meeting of new top-level anti-terrorism group

South China Morning Post

time4 hours ago

  • South China Morning Post

Hong Kong holds first meeting of new top-level anti-terrorism group

Hong Kong leader John Lee Ka-chiu has chaired the first meeting of a high-level counterterrorism group, later announcing that a large exercise to simulate terrorist attacks on critical infrastructure will be held this month. Advertisement The Chief Executive Counter-terrorism Steering Group discussed the progress of various groups under a new three-tier mechanism, global and local threats, and the directions and strategies of the government's counterterrorism work, a statement released after Wednesday's meeting said. 'As a metropolitan city, Hong Kong may also face threats under the global and local terrorism landscape,' Lee said. 'As such, we must further strengthen the [Hong Kong] government's overall counterterrorism work.' It was the first top-level meeting under the three-tier anti-terrorism mechanism introduced in last year's policy address to boost the city's defences against evolving global terrorism threats. Advertisement The city's No 2 official, Chief Secretary Eric Chan Kwok-ki, Financial Secretary Paul Chan Mo-po and Secretary for Justice Paul Lam Ting-kwok are deputy chairmen of the steering group. The top-tier group comprises ministers, department chiefs, heads of the disciplined services and national security officials.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store