Response to the 2026 Policy Address and the Five-Year Plan (2026-2030) by Cushman & Wakefield

Greater China Director at Cushman & Wakefield, KK Chiu, expressed support for the Hong Kong government's housing policy addressing the Composite Waiting Time and housing supply. The plan includes increasing public rental housing to 40%, subsidised sale housing to 30%, and private housing to 30%. The target of delivering 196,000 public housing units over five years aims to create a clearer path for different income groups to achieve homeownership.

Chiu also supported measures to strengthen the housing ladder, increase the supply of subsidised sale housing, and enhance the Basic Housing Units regime to phase out substandard subdivided units. Urban renewal incentives, such as transferable plot ratio arrangements and measures to unlock redevelopment potential, are welcomed by Cushman & Wakefield.

The company suggests clearer guidance on application requirements and streamlined cross-departmental approval procedures to facilitate implementation. John Siu, Managing Director for Hong Kong at Cushman & Wakefield, welcomed the government's commitment to accelerate the Sandy Ridge Data Facility Cluster and the HK$1 billion investment into the Artificial Intelligence Subsidy Scheme.

These initiatives will bolster Hong Kong's artificial intelligence and data centre sectors, enhancing its position as a regional digital and innovation hub. However, Siu believes the government should proactively review long-term requirements for power supply, electricity grid capacity, and related infrastructure in response to rapid advancements in artificial intelligence, large language models, and cloud computing.

Siu recommended regular reviews of future land, power supply, and supporting infrastructure demands arising from AI and data centre growth, particularly in the Northern Metropolis and other strategic development areas.