
Authorities plan to cut commercial floor space due to weak office demand
Hong Kong's Development Bureau has proposed increasing the residential share of a Hung Hom harbourfront project to over 60% by reducing commercial space, citing low office demand and proximity to transport hubs and Polytechnic University.
AI-generated summary
The Development Bureau submitted a proposal to the Legislative Council to rezone land in Hung Hom due to market conditions.
Hong Kong authorities have proposed raising the residential share of a Hung Hom harbourfront development to more than 60 per cent by cutting commercial floor space, citing “strong doubts” over market demand for offices.
The Development Bureau, which submitted the latest proposal to the Legislative Council’s development panel on Monday, also suggested reallocating residential space from initially planned seaside sites to inland plots near Hung Hom station and Polytechnic University. The move aims to provide private and student housing alongside two mixed-use buildings.
“During public consultation, there were views that the [inland zone] would be well suited to become residential units, hotels or student hostels, given its proximity to the Hung Hom station and geographical closeness to Polytechnic University,” the document read.

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Chengdu City issued opinions on the reform of the commercial housing sales system, raising the pre-sale threshold and requiring the main structure of new land parcels to be capped before pre-sale. The policy introduces existing home sales, full supervision of home purchase payments, and a project sponsoring bank system, aiming to strengthen fund security and project quality, and will be implemented from the date of issuance.

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Hong Kong’s Urban Renewal Authority has advised property owners to avoid Taizoom Elevator after the firm failed to install fire-resistant door frame components in 338 buildings. The government has suspended the company's performance rating.