Hong Kong's largest party representing the business sector in the Legislative Council suggested on Tuesday that government rebuild old public rental housing estates – a move that would create 135,000 new units.
In a report, the Business and Professionals Alliance for Hong Kong (BPA) said that at least 19 old estates of public rental apartments across Hong Kong are in poor condition, with obsolete indoor facilities.
These estates require frequent maintenance, and pose environmental and safety issues in their respective neighborhoods, the BPA said at a news conference on Tuesday.
The alliance suggested the special administrative region government rebuild these estates at their original locations, increasing the heights of the buildings to make better use of the land.
This strategy would create at least 135,000 more units, doubling the land's original capacity and accommodating half the applicants on the waiting list for public rental housing, the BPA said.
The alliance advised the SAR government to arrange for local rehousing for residents affected by the plan or give them priority in the purchase of public apartments, and provide them with the necessary funding.
According to the Hong Kong Housing Authority, as of June, there were about 256,000 applications for public rental housing. The average waiting time for an apartment was 5.4 years.