Chief Executive John Lee announced Hong Kong's first five-year plan today (Sept. 16) and delivered the 2026 Policy Address.
John Lee said that in the five years from 2027-28, public housing production will average more than 35,000 units per year; the target of reducing the Average Waiting Time for Public Rental Housing (PRH) to 4.5 years in 2027 will be met; and abuse of public rental housing will be vigorously combated.
In the coming 10 years (i.e. from 2027-28 to 2036-37), about 2,500 hectares of spade-ready sites will be prepared to build up a land reserve to meet economic development and housing needs, and to maintain control over land supply. Of these, about 1,400 hectares are expected to be produced in the next five years, including about 1,000 hectares in the Northern Metropolis.
The Development Bureau launched measures in August this year to use new development land to promote urban renewal. To enable the Urban Renewal Authority (URA) to sustainably promote renewal, the Development Bureau and the URA are conducting a policy review and will put forward concrete proposals and commence consultation within 2027.
From 2027-28, the Home Affairs Department will continue to implement the Joint Property Management in districts in need for two years, and will continue to promote the relevant work and exchanges of district councilors through the newly established Building Management Working Groups under the District Councils.
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