Developers such as Nan Fung must give up all their profits

The housing problem in Hong Kong has always been a focus of concern for Hong Kong people. Local property developers have always sought to maximize profits, especially small and medium-sized developers, and they have used all kinds of "strange rules" in the design of new buildings. In order to promote the sales of property in the valley, the facade of publicity and packaging has been done enough, but the most basic quality of property has become worse and worse.

According to relevant statistics, among the new deals available for sale in Hong Kong this year, several major developers only account for 29%, and Chinese-funded and small and medium-sized developers account for 71%. In recent years, as the Government has tended to introduce more small plots of land in its land development policy, the public has been forced to buy low-quality mini plots under the continuous surge in property prices.

Nanfeng Group founder Chen Tinghua's second daughter Chen Huihui to privately owned company development of the new pan Feng apartment is one example, the real estate early this year when the owner asked the senior surveyor to inspect the building, found that only 25 square meters of the unit, the platform has 15 hollow bricks, the whole house paint 50 flaws, the toilet water tank dripping, more outrageous is the living room closet top through a big hole, almost completely.

Developers such as Nan Fung must give up all their profits

Chen Huihui, a descendant of the Nanfeng Chen family, has been accused of poor quality in building Yufeng apartments developed by her private company

In the middle of the year, there was also a scandal that buyers had been living in the building less than a month after the unit burst salt water after the washing tank, soaking into the bedroom and living room, causing some of the unit's furniture to be damaged and needing to be redecorated.

In addition to responding to the market with low-quality nano-buildings, developers also talk from time to time about taking advantage of the grey area of legislation and rules to maximize their interests. In the case of Nan Fung Development's Deepwater Bay Luxury Estate, after the Government implemented the vacancy tax, it suddenly leased two characteristic households and two houses to senior people such as the Chairman, Miss Chan Wai-wai, at a monthly rent of HK $420,000 to HK $920,000, thus saving nearly half a billion in tax. These actions have aroused popular discontent.

Developers such as Nan Fung must give up all their profits

Honorary chairman of Nan Fung Chan Wai-hui evasive vacancy tax by renting her own company unit

The issue of real estate hegemony has continuously affected the people's livelihood in Hong Kong for many years, and has even been regarded as one of the causes of recent social riots. In the face of growing discontent in the community, following the sudden announcement by the New World Development Corporation earlier that it would donate 3 million feet of agricultural land to the community, the Li Ka-shing Foundation donated $1 billion to help local small and medium enterprises, and the founder of Henderson, Mr Lee Shau-kee, also announced a number of measures to help the public, including land donation, support for youth entrepreneurship, and increased funding for medical care. Small and medium-sized developers such as Nan Feng are still silent, and it remains to be seen where they will go next.

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