Henderson Land to loan 100,000 sq ft of farmland to Hong Kong government for temporary housing

By Georgina Lee Georgina.lee@scmp.com / https://www.scmp.com/business/companies/article/3031650/henderson-land-loan-100000-sq-ft-farmland-hong-kong-government?utm_medium=partner&utm_campaign=contentexchange&utm_source=EdgeProp | October 8, 2019 5:24 AM SGT
Henderson Land Development, the city's third-biggest private landowner, said on Friday that it was considering offering 100,000 square feet of farmland in Kam Tin, New Territories, to the government for seven years to build temporary housing to accommodate 10,000 residents.
Henderson Land also said it would donate land in Yuen Long to build youth hostels and other social welfare uses. However, it was not clear how much land it intends to donate for such purposes.
The move by Henderson comes after New World Development announced plans last month to donate nearly a fifth of its farmland reserves to Hong Kong's government and to non-profit organisations for building public homes, stepping up with a tentative answer to the city's housing crisis.
Henderson's decision came after the developer, founded by tycoon Lee Shau-kee, said last week that it was ready to cooperate with the government if it invokes the Lands Resumption Ordinance to take back 7.3 million square feet of private farmland in the northern New Territories to build new homes.
Henderson Land also plans to donate land to the government in Yuen Long. Photo: Martin Chan alt=Henderson Land also plans to donate land to the government in Yuen Long. Photo: Martin Chan
"As a member of Hong Kong, we will contribute a small effort to help Hong Kong and young people here ... and do our best to help people from all walks of life," Henderson Land said in a statement.
Announced by the Housing Society last year, the temporary housing scheme is intended to take in families now queuing for public rental housing and shorten their waiting period. The scheme is designed to provide temporary relief to those facing housing difficulties.
Henderson Land was founded by Lee Shau-kee. Photo: SCMP alt=Henderson Land was founded by Lee Shau-kee. Photo: SCMP