Page 6 - LanHse_full_report_eng

The Foundation’s other study – on "Land Supply in Hong Kong" – found
that in the past decade, reclamation in Hong Kong has nearly come to a
halt, and there has been a lack of major land development projects. As
a result, living space in Hong Kong seriously lags behind its neighboring
countries and regions, contributing to the lofty rents and property prices,
undermining Hong Kong’s economic competitiveness. Moreover, there is
also an acute shortage of land to meet the need for the growing medical
and elderly services resulting from our expected rapidly ageing popula-
tion. It is clear from these phenomena that land supply is not just the
prerequisite for comfortable accommodation and rewarding careers, but
also the premise for "care for the aged and cure for the sick".
Rain or shine, Hong Kong has made innumerable critical decisions re-
lated to housing and land development. In the process of planning and
execution, some impacts on the environment and residents’ daily life has
been inevitable. Nevertheless, the community had completed these proj-
ects successfully in the past, exemplifying the spirit of selfless contribution,
and creating valuable opportunities for our city. Today, to provide our people
with improved amenities and living environment, to ensure that our elderly
citizens receive appropriate medical and long-term care, and to secure a
vibrant economy to nurture the younger generation, Hong Kong needs to
recreate the ideals of the past and rekindle the spirit of solidarity, in order
to forge a blissful future. With an aim to creating more land to material-
ize Hong Kong’s plan of the next century, we need to encourage and sup-
port the Government to carry out long-term planning, and put its land and
housing development program back on the right track.

Our Hong Kong Foundation