Commentary

The Town Planning Board (TPB) has recently introduced the Plot Ratio Transfer Pilot Scheme, a new planning tool to promote urban regeneration which will be used in Yau Ma Tei and Mong Kok. The pace of renewal has slowed in these districts, and the buildings are not getting any younger. The scheme allows property owners, including private developers and the Urban Renewal Authority (URA), to transfer permissible gross floor area between sites. Suggested by the URA, the plan hopes to incentivise private sector initiatives and preserve buildings of significant value. 

By Lawrence Chia, group chairman and CEO of Pico Far East Holdings Limited.

As the government intensifies its efforts to acquire private land for the Northern Metropolis and Northeast New Development Areas (NDAs) – for public housing and other public purposes – two crucial points are causing hiccups. 

Hong Kong’s Northern Metropolis is fast becoming a highly sought-after real estate investment location. Despite no government land sales being planned for this area this year, developers and investors have been active, participating in land exchanges and rezoning exercises. Here is what we know about those recent land exchanges and rezoning applications and their potential impact on the real estate market.

A local government accommodation scheme in Shanghai could boost private interest in Hong Kong’s Northern Metropolis and solve housing issues before they arise.

Companies without a purpose are no longer sustainable. As so many young people today aspire to live in a better world, the domino effect of their choices to be environmentally and socially conscious reaches all companies. 

Automation carves out new avenues to achieve new business outcomes that would otherwise not be possible. It is safe to say that the disruption caused by automation will continue to have a significant impact across industries.  As Hong Kong strives to develop its digital economy, intelligent connectivity will be crucial to solidifying its position as a regional financial and economic hub.

As a digitally savvy population, Hong Kong’s consumers expect retail organisations and brands to invest in enhanced digital capabilities that deliver seamless, hyper-personalised digital experiences. Advances in digital transformation and data modernisation enable retailers to target consumers more accurately and, as a result, achieve higher success. 

From the MTR’s launch of a ‘Web3’ (an internet service using decentralised blockchains) metaverse partnership with The Sandbox platform to K11 MUSEA’s METAVISION NFT showcase on HSBC’s Main Building façade back in June 2022, signs of metaverse are proliferating in our lives, and proliferating fast.

The fifth COVID wave in Hong Kong has brought unprecedented challenges to small-and-medium-sized businesses (SMBs) but signs of recovery are already starting to emerge. A recent survey conducted by CPA Australia found that 57% of SMB respondents expect their revenue to stay at a normal level or even grow in the next three months.

Despite the challenges arising from the ongoing global pandemic, Hong Kong, with its expertise and massive capital flows in the insurance market, will always be the Asian hub for multinational insurers

Recently, Hong Kong endured its worst outbreak since the pandemic began, and as the economic data reflects, the situation is still far from stable. In February, for instance, the value of total retail sales – with retail being one of the most directly impacted sectors – decreased by 14.6% compared with the same month in 2021. In hope of boosting business sentiment, the government eased some anti-pandemic measures, but the effectiveness of these actions is still in question.

Living environment has been a topic close to everyone’s heart during the pandemic.

With the second-highest engagement after the United States, Hong Kong continues to be a significant market for cryptocurrency. 

What is the difference between the economic cost of the global COVID-19 pandemic and global cybercrime in 2021?

Some reflection is perhaps in order as we approach the second anniversary of COVID-19’s initial outbreak.