RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Happiest place on earth no more: housing woes may hit Disney

Mickey and Minnie may soon be homeless, but at least, 40,000 Hong Kongers won’t be.

Bloomberg reports that Disney’s magic may soon wane as the administration led by Chief Executive Carrie Lam is studying various proposals – from golf courses, country parks and farmland - to unlock more land to solve its perennial housing woes which might include a proposal that will convert land reserved for the expansion of Hong Kong Disneyland.

The think tank Global Institute for Tomorrow puts forward that 60 hectares reserved for the expansion of Hong Kong Disneyland could provide housing for as much as 39,900 families. 

If the proposal comes through, Disney will go further into the red as this comes after it reports its third consecutive losses as tourists are now shunning the theme park in favour of Macau’s glitzy casinos.

Here’s more from Bloomberg

Photo from Flickr 

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