Cushman & Wakefield responses to the Policy Address 2025/26

HONG KONG SAR - Media OutReach Newswire - 17 September 2025 - Response to the Policy Address 2025/26 by KK Chiu, International Director, Chief Executive, Greater China of Cushman & Wakefield:

Housing Supply and Land Policy
Optimize land resource allocation and accelerate public housing supply

Hong Kong's land allocation policies have a profound impact on people's lives. We are pleased to see the government actively promoting Light Public Housing and other subsidized housing in recent years, as the overall policy direction helps improve living conditions. While we recognize the government's efforts to introduce various measures to support housing needs, we believe it remains necessary to continuously increase the supply of public housing and accelerate the turnover and allocation of public housing resources.

Welcoming lower construction costs to drive land development

A major difficulty in land development lies in the persistently high construction costs. We are pleased to see the government adopting a multi-pronged approach to reduce construction costs and optimize process design.

On this basis, we recommend that the government further rationally and timely allocate financial, human, and other resources. At the same time, it should proactively strengthen communication with the central government to strive for more centralized procurement benefits that meet Hong Kong's needs, thereby compressing core costs such as building materials and equipment to enhance overall cost-effectiveness. This move will help accelerate the pace of land supply and provide the market with a more stable and affordable development space.

Cross-District Transfer of Plot Ratio to Help Advance Redevelopment

We support the government in promoting urban renewal with a more flexible approach, especially the relaxation of arrangements for the cross-district transfer of plot ratio. This helps to enhance the incentive for redevelopment and can also effectively alleviate the disputes and difficulties in land resumption and compensation, allowing redevelopment projects to be implemented more smoothly.

II. University Town Planning and Construction Group: Building the "Talent Engine" Behind Industrial Development

1. Mutual Empowerment of Education and Industry: The University Town is not only a base for talent cultivation but also a cradle for promoting innovative research and development and high-value-added industries. Universities have a powerful "enabling effect"; in addition to exporting talent, they help upgrade mainstream industries to higher levels of technology and knowledge intensity.
2. Construction of a Research Commercialization Platform: The government is encouraged to leverage universities to promote scientific research and attract local and international academic resources, establishing the Northern Metropolis as a base for international innovation talent.

III. Planning and Development Working Group: The Key Force for Implementing Hardware Infrastructure and Managing Pace

Hardware construction is the foundation that supports the industrial and population development of the Northern Metropolis. Our organization is pleased to see the government establish a dedicated working group to coordinate planning, land, transport, engineering, and environmental protection to ensure synergistic development across all functional areas. We recommend prioritizing the development of transport hubs, living facilities, and public services to align with the simultaneous influx of industries and population, thereby avoiding the scenarios of a "ghost town" or "hollowed-out industries." Furthermore, the government should establish a clear timetable and a phased reporting mechanism to enhance project transparency and execution efficiency, reducing delays and resource misallocation.

Response to the Policy Address 2025/26 by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:

Retail Market
Supporting Pet-friendly Policies to Promote Diversified Development of the Retail Property Market

We welcome the government's push for pet-friendly policies. We believe this will not only expand potential customer traffic, but also help legitimize existing operating models. Once implemented, the policies can attract a broader clientele and enhance the overall consumer experience.

Some shopping malls have already prepared for the "pet economy," creating pet-friendly zones and adding pet retail and grooming services. As the policy rolls out, we expect more malls to transition into pet-friendly spaces, unlocking new customer segments, increasing dwell time, and expanding market opportunities for retail and F&B—creating fresh avenues for growth.

Data Centre

Support Launching the Sandy Ridge Data Facility Cluster Land Tender to Consolidate Hong Kong's Status as a Regional Data Centre Hub

We welcome the government's launch this year of the land tender for the Sandy Ridge Data Facility Cluster, which will further strengthen Hong Kong's position as a regional data center hub and promote related industry development. Given that infrastructure such as water supply, power capacity, fiber-optic networks, and road transport is critical to data center operations, we recommend that the government clearly specify, in the tender documents, the completion timelines and technical specifications of these supporting facilities. This would improve project transparency, bolster market confidence, and help investors and operators better assess investment costs and project completion dates.

Response to the Policy Address 2025/26 by Rosanna Tang, Executive Director, Head of Research, Hong Kong of Cushman & Wakefield:

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