Link Exhibition: Dismantling and pushing up prices is a misunderstanding

The Legislative Council Panel on Housing discussed yesterday (00823) the sale of property from the Housing Authority. The Link Asset Management Corporation said that it had submitted a written submission to the Committee. It hoped that the members of the Committee would be reassured and stressed that they have been striving to enhance the property. The quality of life of the surrounding communities, creating value for different stakeholders, and carefully handling asset sales.

Promote new buyers to continue the disability offer

In the submission, the Link reiterated that in the sale of the Housing Authority’s properties, it will comply with the terms of the land lease. It will also advise the purchasers to extend the concessionary measures, including providing high discount parking discounts for the disabled. The management and maintenance costs of the common areas have been assessed in accordance with the requirements of the Deed of Mutual Covenant and have been paid in full to all estates.

For the new owners, the increase in rents will increase the prices of essential necessities. The Linkage considers this to be a misunderstanding. It has also cited a study by the FEHD that some fresh foods are selling at higher prices in the public markets than in the market. . The company also has no plans to substantially increase the proportion of property development or rebuilding in the asset portfolio.

The Link Expo emphasizes creating value for different stakeholders. In terms of merchants, the Link has completed 71 asset improvement projects since its listing in 2005, with a total investment of over 7 billion yuan. The use of Hong Kong’s asset portfolio increased from 89.3% in 2008 to 95.5% in 2018.

On the customer side, since 2012, Link Investment has invested 229 million yuan to enhance the unimpeded facilities of its properties and to revitalize the shopping experience of traditional markets.

In terms of community, as of March this year, the portfolio of assets in Hong Kong has leased over 660,000 square feet of floor space to 127 charities and non-government organisations, with an average monthly rent of less than $7.