The 90-year-old founder and chairman of Hopewell Holdings also described it as “too early to say” whether his property empire would follow its peers and commit to investing in the mega development near the city’s border with mainland China.
“We don’t know, because at the present moment the land is still not owned by the government. So that’s the first priority [for us],” he told the South China Morning Post. “Get the ownership, get the transport – all that is the government’s [job]. After that, the private sector will come in.”
Wu said Hong Kong’s development had been constrained by a lack of land, which had led to the housing affordability crisis. He noted that out of Hong Kong’s roughly 1,000 sq km of land, housing a population of 7.5 million, only about 25 per cent had been developed for residential and urban use.
