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Real Estate Developers Association of Hong Kong

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Real Estate Developers Association of Hong Kong
AbbreviationREDA
Formation1965
Legal statusNot-for-profit organization
Location
Region served
Hong Kong
President
Keith Herr
Websitewww.reda.hk

The Real Estate Developers Association of Hong Kong (REDA; Chinese: 香港地產建設商會) is a business organization representing the property development industry in Hong Kong. It was established in 1965 under the chairmanship of Henry Fok. The association's members included the 17 major developers in Hong Kong.[1]

History

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In November 2020, REDA issued a statement supporting the decision to disqualify 4 pro-democracy lawmakers from the Legislative Council, stating that "The decision will help safeguard national sovereignty and implement 'one country, two systems'."[2]

In January 2023, Stewart Leung Chi-kin from REDA said that developers would "make a lot of noise" if the government decided to repurpose a community isolation facility into public housing, and said "Repurposing that facility will ruin the entire Kai Tak area."[3] On a separate plot of land also in Kai Tak, Leung said that developers were worried about traffic concerns if public housing were built there.[3]

In February 2023, after the government stipulated that land leases cannot violate the national security law, Leung said that "The latest practice will not have an impact on a developer's desire to tender for land or not. It will not scare away foreigners who are true investors, but only those that hope to disturb and obstruct the city's development with political motives."[4]

In February 2023, Leung also called for the government to end of stamp duties, saying "the Earth will not stop spinning" if stamp duties are eliminated.[5] In April 2023, John Lee rebuffed Leung's request for the government to end measures to cool the property market.[6]

In February 2024, REDA supported the implementation of Article 23 and said it was "the will of the people."[7]

In July 2024, REDA said the San Tin Technopole in the Northern Metropolis should reduce a proposed 70-30 public-private housing ratio to 50-50 instead, reducing the amount of public housing.[8]

Executive Committee membership

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As of November 2020[9]

See also

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References

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  1. ^ Lin, Dave (2017). Regulating Information Asymmetry in the Residential Real Estate Market: The Hong Kong Experience. Taylor & Francis. p. 18.
  2. ^ "All Hong Kong opposition lawmakers quit over Beijing resolution". South China Morning Post. 2020-11-12. Retrieved 2020-11-12.
  3. ^ a b "Hong Kong developers raise concerns over plan to build 10,700 public flats at Kai Tak". South China Morning Post. 2023-01-31. Retrieved 2023-01-31.
  4. ^ "Hong Kong developers dismiss fears over national security clauses in land documents". South China Morning Post. 2023-02-13. Retrieved 2023-02-14.
  5. ^ Standard, The. "TST shop sold for a lofty $100m". The Standard. Retrieved 2023-02-21.
  6. ^ "Hong Kong leader rejects calls to drop property cooling measures". South China Morning Post. 2023-04-18. Retrieved 2023-05-01.
  7. ^ Press, Hong Kong Free (2024-02-04). "Article 23 - Hong Kong's local security law explained: 2003 vs. 2014". Hong Kong Free Press HKFP. Retrieved 2024-02-06.
  8. ^ "Hong Kong can adjust housing ratio when public flat wait time improves: minister". South China Morning Post. 2024-07-21. Retrieved 2024-08-17.
  9. ^ "Executive Committee". Real Estate Developers Association of Hong Kong. Retrieved 12 November 2020.
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