Far East Consortium chairman David Chiu says industry’s willingness to invest in the Northern Metropolis hinges on the health of the market
Far East Consortium chairman David Chiu Tat-cheong also described the megaproject’s new land disposal approach – which requires winning bidders to handle multiple developments on a large plot – as good intentions with unintended negative consequences, as it could make it challenging for smaller developers to take part.
“If you had asked whether [Hong Kong] should move faster six months ago, I might have said ‘maybe’,” Chiu said. “But today, I believe we should not rush. We should progress while ensuring stability, because the world is constantly changing and we cannot control it.”
He added: “We as businesses and the Hong Kong government are very small players. We cannot control the overall situation. If we move too quickly in such a chaotic world, I am afraid we will stumble.”
Source: News - South China Morning Post
