Written by: Citaugu
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According to the United Nations Human Settlement Program, 1.6 billion people live in substandard housing, with 150 million homeless. Homelessness is linked to the cost of housing and unemployment. In addition, people’s physical, mental, and emotional health is harmed when they are homeless or live in inadequate homes.
In Hong Kong, the income gap and house prices combined make it extremely difficult for low-income families to purchase a home. According to the government, 200,000 people live in small sharing homes, with one out of five people living in poverty.
A total of 105,000 applications for public housing were received by the government, while 88,000 applications were received by non-profit organizations. The government aims to build 280,000 public houses and 180,000 private housing by 2027 to address the problem.
Sun Hung Kai Properties (SHKP) is a Hong Kong-based real estate firm specialising in residential, office, and shopping malls.
SHKP leased to land worth USD($)128,000 NGO’s to provide homes for low-income families. This program will provide 2,000 apartments to families who have been waiting for public housing. The average wait time is 5 and a half years. The first project, which is expected to be completed by 2022, would shelter 1,600 families. Another project will be carried out on 3.7 hectares to supply 2,000 transitional apartments.
Aside from providing housing for low-income families, the program will also give inhabitants skills training for the housing sector. SHKP refurbished 11 homes for low-income families throughout 2019/20.
SHKP is making a decent effort to assist with the homelessness crisis in Hong Kong with temporary housing plans. However, SHKP, as a strong real estate corporation, should adopt a long-term solution for those low-income families.
