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Cushman & Wakefield responses to the Policy Address 2025/26
Housing Supply and Land Policy
Optimize land resource allocation and accelerate public housing supply
Hong Kong’s land allocation policies have a profound impact on people’s lives. We are pleased to see the government actively promoting Light Public Housing and other subsidized housing in recent years, as the overall policy direction helps improve living conditions. While we recognize the government’s efforts to introduce various measures to support housing needs, we believe it remains necessary to continuously increase the supply of public housing and accelerate the turnover and allocation of public housing resources.
Welcoming lower construction costs to drive land development
A major difficulty in land development lies in the persistently high construction costs. We are pleased to see the government adopting a multi-pronged approach to reduce construction costs and optimize process design.
On this basis, we recommend that the government further rationally and timely allocate financial, human, and other resources. At the same time, it should proactively strengthen communication with the central government to strive for more centralized procurement benefits that meet Hong Kong’s needs, thereby compressing core costs such as building materials and equipment to enhance overall cost-effectiveness. This move will help accelerate the pace of land supply and provide the market with a more stable and affordable development space.
Cross-District Transfer of Plot Ratio to Help Advance Redevelopment
We support the government in promoting urban renewal with a more flexible approach, especially the relaxation of arrangements for the cross-district transfer of plot ratio. This helps to enhance the incentive for redevelopment and can also effectively alleviate the disputes and difficulties in land resumption and compensation, allowing redevelopment projects to be implemented more smoothly.
In addition to the continuous increase in the construction of public rental housing, I am pleased to see the government providing home ownership opportunities for families with general economic capabilities. With a significant increase in the supply of Home Ownership Scheme (HOS) flats, raising the Green Form quota ratio will assist more public rental housing tenants in purchasing their own homes. At the same time, this allows other applicants on the public housing waiting list to be housed more quickly, achieving a win-win situation.
Furthermore, I am also pleased to see the Housing Authority’s plan to add another 1,000 quotas for eligible applicants of the “White Form Secondary Market Scheme.” Half of these will be allocated to young families and single-person applicants under the age of 40, helping young families realize their dream of home ownership.
Response to the Policy Address 2025/26 by Alva To, Vice President, Head of Consulting, Greater China of Cushman & Wakefield:
Northern Metropolis Development
From “Supervision” to “Development”: The Northern Metropolis Enters a Critical New Phase of Implementation
Our organization is pleased to see the Northern Metropolis officially transition from the “supervision” upgrade to the “development” phase, with the new “Northern Metropolis Development Committee” to be personally led by the Chief Executive. This structural change not only symbolizes a shift in policy focus but also demonstrates the government’s strong emphasis and determination for the project’s implementation. The establishment of three dedicated working groups will effectively enhance overall planning coordination, execution efficiency, and regulatory capacity, laying a solid foundation for the substantive development of the Northern Metropolis.
I. Development and Operation Model Design Group: The Core Driver for Landing Mainstream Industries
- Operation-First, Construction-Led: This group is responsible for promoting the introduction and operation of mainstream industries, including the formulation of public-private partnership models such as “Build-Operate-Transfer” (BOT). This move reflects the government’s awareness that the key to the Northern Metropolis’s success lies not just in construction itself, but in sustainable subsequent operations and the successful establishment of industries.
- Incorporating a Technology-Oriented Approach in the “Two-Envelope Approach”: Our organization supports the government’s adoption of the “two-envelope approach” and recommends further increasing the weighting of the technical bid. This would make the quality of the industrial proposal, long-term commitment, and implementation capability the core criteria for evaluation.
- Introducing the “1.5-level development” Model: The concept of “1.5-level development” requires not only the initial introduction of facilities for entertainment, dining, and MICE (Meetings, Incentives, Conferences, and Exhibitions), but more importantly, how to prepare and nurture the foundation for mainstream industries in the early stages. Therefore, our organization suggests first completing the research and positioning of mainstream industries. In the initial phase, ancillary facilities that require lower development intensity and smaller capital investment but can support the growth of mainstream industries should be introduced. Through several years of incubation and operation, population flow and industrial elements can be gradually gathered. Once the industries mature, the second phase of development can commence, thereby extending the value of the space and amplifying economic momentum.
- Adopting Flexible Land Development Models: We are pleased to see the government adopting diversified land grant methods, including leases, open tenders, restricted tenders, and even direct grants, coupled with industry-specific conditions to accelerate the implementation of high-potential projects. We welcome the government’s encouragement of broad market participation in the construction of the Northern Metropolis to enhance the efficiency and precision of land allocation.
II. University Town Planning and Construction Group: Building the “Talent Engine” Behind Industrial Development
- Mutual Empowerment of Education and Industry: The University Town is not only a base for talent cultivation but also a cradle for promoting innovative research and development and high-value-added industries. Universities have a powerful “enabling effect”; in addition to exporting talent, they help upgrade mainstream industries to higher levels of technology and knowledge intensity.
- Construction of a Research Commercialization Platform: The government is encouraged to leverage universities to promote scientific research and attract local and international academic resources, establishing the Northern Metropolis as a base for international innovation talent.
III. Planning and Development Working Group: The Key Force for Implementing Hardware Infrastructure and Managing Pace
Hardware construction is the foundation that supports the industrial and population development of the Northern Metropolis. Our organization is pleased to see the government establish a dedicated working group to coordinate planning, land, transport, engineering, and environmental protection to ensure synergistic development across all functional areas. We recommend prioritizing the development of transport hubs, living facilities, and public services to align with the simultaneous influx of industries and population, thereby avoiding the scenarios of a “ghost town” or “hollowed-out industries.” Furthermore, the government should establish a clear timetable and a phased reporting mechanism to enhance project transparency and execution efficiency, reducing delays and resource misallocation.
Response to the Policy Address 2025/26 by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:
Retail Market
Supporting Pet-friendly Policies to Promote Diversified Development of the Retail Property Market
We welcome the government’s push for pet-friendly policies. We believe this will not only expand potential customer traffic, but also help legitimize existing operating models. Once implemented, the policies can attract a broader clientele and enhance the overall consumer experience.
Some shopping malls have already prepared for the “pet economy,” creating pet-friendly zones and adding pet retail and grooming services. As the policy rolls out, we expect more malls to transition into pet-friendly spaces, unlocking new customer segments, increasing dwell time, and expanding market opportunities for retail and F&B—creating fresh avenues for growth.
Data Centre
Support Launching the Sandy Ridge Data Facility Cluster Land Tender to Consolidate Hong Kong’s Status as a Regional Data Centre Hub
We welcome the government’s launch this year of the land tender for the Sandy Ridge Data Facility Cluster, which will further strengthen Hong Kong’s position as a regional data center hub and promote related industry development. Given that infrastructure such as water supply, power capacity, fiber-optic networks, and road transport is critical to data center operations, we recommend that the government clearly specify, in the tender documents, the completion timelines and technical specifications of these supporting facilities. This would improve project transparency, bolster market confidence, and help investors and operators better assess investment costs and project completion dates.
Response to the Policy Address 2025/26 by Rosanna Tang, Executive Director, Head of Research, Hong Kong of Cushman & Wakefield:
Building an International Education Hub and Improving Student Accommodation
We welcome the government’s decision to raise the cap on self-financed non-local students at publicly funded post-secondary institutions from 40% to 50% of local intake. This will increase admissions flexibility, strengthen the international competitiveness of Hong Kong’s education sector, and inject new momentum into the local economy.
According to the latest data, the number of non-local students at bachelor’s level and above reached 89,000 in the 2024/25 academic year, up around 24% from 72,000 in 2023/24. However, the average student-to-bed ratio at the eight UGC-funded universities stands at 3.4:1, indicating a clear shortfall. With the new policy taking effect, we estimate the overall shortage of student accommodation in Hong Kong could expand to over 70,000 beds.
We therefore welcome the government’s adoption—outlined in the Policy Address—of the recommendations from our earlier research report “Hong Kong Talent Housing Part Two: Student Accommodation” Specifically, the reservation of new commercial or other land for purpose-built Student Accommodation (PBSA) with detailed arrangements to be announced within the year. This demonstrates a firm commitment to increasing bed supply in the medium to long term, facilitates near-term activation of existing building stock, and, over time, helps build a more complete education-support ecosystem—further advancing Hong Kong’s positioning as an attractive international education hub.
Capital Market
Support for Easing Investment Thresholds and Extending Trading Hours to Promote Market Diversification
We support easing the restrictions in the “Capital Investment Immigration Scheme” regarding the inclusion of purchased residential and non-residential properties as part of the investment amount. We believe this adjustment will not only attract more investors to Hong Kong but also help stimulate turnover in the high-end residential and non-residential property markets, injecting new impetus into the capital market.
Support for Relaxing the Exemption Arrangement for Car Park Gross Floor Area
We welcome the government’s adjustment to the requirements for constructing car parks in new development projects. This means the industry will no longer need to place car parks in basements due to gross floor area considerations. This move can reduce the difficulty of project development and save developers’ project development costs. In the long run, it can also make the price of parking spaces more affordable.
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The Taiwan-born pet mobility brand opens its first SoHo pop-up inside Flying Solo, bringing its Nordic-designed pet stroller collection to the heart of New York City.
NEW YORK, USA – Media OutReach Newswire – 02 April 2026 – FikaGO, the design-led pet mobility brand recognized across Asia and Europe, has opened its first New York City pop-up store inside Flying Solo in SoHo. The opening marks a deliberate move for a pet brand into one of the world’s most competitive retail districts.
Since entering the online American market in 2025, FikaGO has built a growing community of pet parents who see their animals as a central part of everyday life. Positioned as lifestyle essentials rather than conventional pet gear, FikaGO’s range of products is designed for people who want the best for their fur babies.
“We’ve always believed that pet products should not only be functional, but also beautifully integrated into everyday life.” — Eric Guu, Co-founder, FikaGO
SoHo was a considered choice: Flying Solo, with locations in New York and Paris, is known for championing independent design with a distinctly global sensibility.
The pop-up showcases FikaGO’s auto-folding Free To Go 2 in Sandy Beige, the brand’s bestselling product. All FikaGO’s products are manufactured using eco-friendly fabrics made from recycled materials, reflecting a commitment to sustainability. This includes their large-capacity Agile 2 pet strollers to their airline-approved Truffle carriers and the heavy-duty Kross pet wagon.
“Launching in SoHo is a meaningful milestone for us; it allows customers to truly experience the quality, design, and intention behind every FikaGO product.” — Eric Guu, Co-founder, FikaGO
As pet ownership rises globally, particularly among urban millennials and Gen Zs, demand for products that combine functionality, design, and lifestyle integration continues to grow. FikaGO was built for precisely this moment, and SoHo is precisely where that moment lives.
Visit the FikaGO pop-up at Flying Solo, 419 Broome Street, New York, or explore the full collection at https://us.fikago.com/.
Hashtag: #FikaGO #petmobilitybrand #petstroller #petcarrier #petwagon #petkennel #petbiketrailer
https://us.fikago.com/
https://www.facebook.com/FikaGO.US
https://www.instagram.com/fikago_us/
YouTube: 
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About FikaGO
FikaGO is a pet mobility brand founded in Taiwan, dedicated to crafting products that blend functionality, comfort, and modern aesthetics. With a presence across Asia and growing reach in Europe and the U.S, FikaGO is redefining everyday experiences between pets and their humans.
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Lee Kum Kee Celebrates Culinary Excellence at the Historic Hong Kong Debut of Asia’s 50 Best Restaurants 2026
From 23-25 March, Lee Kum Kee brought together top chefs, diverse cultures and industry communities through a range of thoughtfully curated experiences, bringing authentic Asian flavours to the global stage. As well as reaffirming the brand’s Asian roots and international perspective, its involvement reflected an enduring commitment to preserving culinary heritage and driving gastronomic innovation.
“Asian Flavour Duet“: A Culinary Journey Through Heritage and Innovation
Helping to build momentums for this year’s awards, Lee Kum Kee collaborated with Vicky Cheng, the acclaimed Executive Chef and owner of WING, to co-create the “Asian Flavour Duet”, a Hong Kong-style late-night supper party on 24 March. Hosted at two Hong Kong culinary landmarks, the experience unfolded in two chapters – “Paying Tribute to Heritage” and “Innovative Fusion” – and invited guests to explore the limitless possibilities of Asian flavour.
The evening began at the century-old Lin Heung Lau teahouse, a space filled with nostalgia and memories for generations of Hong Kongers. Chef Vicky reinterpreted classic Hong Kong late-night dishes using signature Lee Kum Kee sauces, while guests were immersed in the warmth of the historic venue.
The celebration then moved to Medora, Chef Vicky’s Western dining space, where an “Innovative Fusion” was revealed. He showcased his modern culinary philosophy by incorporating Lee Kum Kee sauces with contemporary techniques to create bold, unexpected dishes. Guests also enjoyed specially crafted cocktails infused with Lee Kum Kee sauces, alongside a delightful yet refined sauce-inspired gelato, demonstrating a harmonious interweaving of savoury, umami, sweetness and spice.
The multisensory journey seamlessly blended tradition with innovation, exploring the future of cuisine while highlighting Lee Kum Kee’s role as a global gateway to Asian culinary culture.
At the event, Dodie Hung, Executive Vice President – Corporate Affairs at Lee Kum Kee, commented, “Tonight, we are honoured to celebrate Hong Kong’s late‑night food culture with Chef Vicky and the global culinary community. From the legacy of Lin Heung Lau to the forward‑looking spirit of Medora, we are proud to be part of the creative journey and help showcase the depth of Asian flavours on the world stage.”
Celebrating a Gastronomic Brilliance with the Highest Climber Award Sponsored by Lee Kum Kee
During the awards ceremony on 25 March, Lee Kum Kee’s booth showcased a range of the brand’s acclaimed classic sauces and innovative products. Guests sampled specially crafted bites featuring Lee Kum Kee sauces, engaging directly with the flavours and techniques that have made the brand a trusted partner in both home and professional kitchens worldwide.
As part of the evening’s celebration of the region’s most exceptional culinary talents, the Highest Climber Award sponsored by Lee Kum Kee was presented to Lamdre in Beijing by Chef Park from Atomix (No.1 in North America’s 50 Best Restaurants 2025). Lambre was applauded for its pioneering plant-based dining space that promotes healthy, sustainable living while honouring Chinese biodiversity in its menus.
In addition, WING, led by Chef Vicky, achieved an impressive second place in 2026 Asia’s 50 Best Restaurants list. The restaurant had also previously ranked No. 11 on The World’s 50 Best Restaurants list in 2025, underscoring its continued international acclaim.
Building the Future Together: Deepening Global Partnerships
With the success of this prestigious awards ceremony in Hong Kong, China, Lee Kum Kee looks forward to deepening its collaboration with leading talents in the global culinary community. By continuing to champion Asian flavours and foster meaningful dialogue and exchange, the brand will continue to bring the spirit of Asian cuisine to kitchens and dining tables around the world.
Hashtag: #LeeKumKee #LKK
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About Lee Kum Kee
Lee Kum Kee is the global gateway to Asian culinary culture, dedicated to promoting Chinese culinary culture worldwide. Since 1888, it has brought people together over joyful reunions, shared traditions and memorable meals. Beloved by consumers and chefs alike, Lee Kum Kee’s range of more than 300 sauces and condiments sparks creativity in kitchens everywhere, inspiring professional and home chefs to experiment, create and delight. Headquartered in Hong Kong, China and serving over 100 countries and regions, Lee Kum Kee’s rich heritage, unwavering commitment to quality, sustainable practices and “Constant Entrepreneurship” combine to enable superior experiences through Asian cuisine for people worldwide. For more information, please visit www.LKK.com.
About Asia’s 50 Best Restaurants
Launched in 2013, Asia’s 50 Best Restaurants aims to showcase the outstanding achievements and diverse culinary landscape of the region. The list is determined by the Asia’s 50 Best Restaurants Academy, a panel of over 350 culinary experts from across Asia who vote independently based on their specialised knowledge of the local dining scene. The Asia’s 50 Best Restaurants series includes the awards ceremony and list announcement, creating a premier networking platform for restaurateurs, media, seasoned travelers and culinary connoisseurs to celebrate the exceptional service, passion and talent in the dining industry.
- Herbert Vongpusanachai takes on the role of Senior Vice President for Commercial for the region, effective April 1, 2026
SINGAPORE – Media OutReach Newswire – 2 April 2026 – DHL Express, the world’s leading international express service provider, has appointed Herbert Vongpusanachai as Senior Vice President, Commercial for Asia Pacific, effective April 1, 2026. Herbert, who currently serves as Managing Director for DHL Express Thailand & Indochina, will be based in Singapore for his new role.
Herbert brings more than two decades of leadership experience within DHL Express, having successfully helmed multiple key markets across the region. He first joined the company in 2003 as Managing Director for Thailand & Indochina, later taking on leadership of Singapore in 2008, followed by Hong Kong & Macau in 2016. Since returning to lead Thailand & Indochina in 2020, he has driven sustained year‑on‑year profitable growth, transforming the cluster into one of the region’s key engines of expansion.
“Herbert has an exceptional track record of delivering strong business results while nurturing highly engaged teams across diverse markets. His deep understanding of our customers, collaborative leadership style, and ability to unearth opportunities in complex environments make him the ideal leader to drive our commercial agenda for Asia Pacific. I am confident that under his guidance, we will continue to accelerate sustainable growth across the region,” said Ken Lee, CEO for Asia Pacific, DHL Express.
In his new regional role, Herbert will shape and accelerate the commercial strategy for DHL Express across Asia Pacific by working with other functions to assess new sectors, routes and trade lanes with high potential for growth. He will focus on deepening customer engagement and supporting their expansion, while driving sustainable volume growth and advancing the adoption of new technologies to enhance commercial execution across markets. With his extensive country expertise and people‑first leadership style, Herbert is well‑positioned to support both regional and country teams in raising commercial performance to new levels.
“Asia Pacific remains an important anchor in global trade as seen in the latest DHL Global Connectedness Report, and this indicates the unwavering role of logistics to facilitate the flow of goods. With the newly introduced Heavyweight Express solution, which enables customers to ship heavyweight shipments with speed, certainty and reliability, I look forward to working alongside our talented teams to contribute to shaping the next chapter of DHL Express’s commercial success,” said Herbert Vongpusanachai, Senior Vice President – Commercial for Asia Pacific, DHL Express.
The latest DHL Global Connectedness Report shows that the region remains a major anchor of global commerce, with multiple economies rising in global connectedness rankings and Southeast Asia firmly establishing itself as a fast‑growing trade corridor. This also mirrors one of DHL Group’s strategies to better support 20 markets globally to accelerate growth; eight of them rest in Asia Pacific – underscoring the region’s critical role in DHL’s global network. As trade flows diversify and intra‑Asia integration deepens, this leadership appointment further strengthens DHL Express’s position in Asia Pacific.
Hashtag: #DHL
https://group.dhl.com/en.html
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DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 389,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of DHL Group. The Group generated revenues of approximately 82.9 billion euros in 2025. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
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