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Response to the Budget 2026/2027 by Cushman & Wakefield
Response to the Budget 2026/2027 by KK Chiu, International Director, Chief Executive, Greater China, Cushman & Wakefield:
Enhancing Implementation Efficiency in the Northern Metropolis through Anchor Institutions and Clear Role Definition
In the Budget, the Government mentioned that it will further encourage developers holding land in the Northern Metropolis to collaborate with technology or advanced manufacturing enterprises in submitting joint development proposals. At C&W, we believe that introducing a public–private partnership model can enhance execution efficiency and help alleviate fiscal pressure, thereby accelerating the implementation of the Northern Metropolis development while leveraging market efficiency and innovation capabilities. However, the key lies in how clearly the Government defines public and commercial roles, and ensures transparency in long-term industry objectives, land use and return allocation, in order to attract private sector participation. Subject to clear planning, phased implementation and prudent regulation, the PPP model can become an important tool in advancing the industrialisation of the Northern Metropolis.
As noted in our earlier research, the Government may consider securing strategic “anchor institutions” and avoiding blurred industrial positioning across different precincts, so as to establish clear district identities and enhance overall attractiveness. We hope the Government will announce details of university and technology industry participation as soon as possible to strengthen developers’ confidence in advancing projects within the district. At the same time, we welcome the Government’s adoption of our earlier recommendation to introduce flexible arrangements for land premium payment in the Northern Metropolis. This will help alleviate cash flow pressures for enterprises undertaking land development, and enhance the feasibility and pace of public–private partnerships and industry introduction initiatives.
We support the Government’s proposal to increase the borrowing ceiling of the two bond programmes to HK$900 billion to finance the development of the Northern Metropolis, and to issue more longer-term bonds to better align with cash flow requirements and capital deployment for infrastructure works. Beyond direct bond issuance, we suggest that, from a broader asset allocation perspective, the Government could make better use of the sizeable Mandatory Provident Fund (MPF) asset pool. According to MPFA data, total MPF assets reached approximately HK$1.55 trillion as at end-December 2025, a record high. The Government may consider moderately relaxing MPF investment restrictions to allow a certain proportion of assets (for example, 10%) to be invested in long-term bonds issued for Northern Metropolis development. This would provide a stable source of funding for the Northern Metropolis while offering MPF members an additional investment option with relatively lower risk and stable returns, creating a win-win outcome.
Land and Housing Supply
The land sale programme for the coming year, together with the projected supply of first-hand private residential units in the next three to four years, indicates that land and housing supply is stabilising. We recommend that the Government streamline tender conditions and release sites to the market in an orderly manner to attract broader developer participation and revitalise market sentiment.
Suggest to Assist “Basic Housing Unit” Residents with Rehousing
The regulatory regime for “Basic Housing Units” is expected to take effect on 1 March this year, with a 48-month transitional period. Some units may fail to meet the new requirements, potentially resulting in tenant displacement. In addition, there are approximately 27,000 units in public rental housing estates aged over 50 years, creating significant rehousing pressure. We consider that the urban renewal strategy should be flexible and financially sustainable. The Government should establish clear rehousing priorities and allocate units reasonably among affected residents, tenants of old estates and applicants on the waiting list.
Under the Urban Renewal Authority’s prevailing acquisition approach, compensation based on prices comparable to first-hand residential properties (including owner-occupier allowances) has imposed substantial financial pressure. We therefore recommend further optimisation of the “flat-for-flat” mechanism to alleviate cash compensation burdens. Specifically, the Government could explore allocating land in new development areas, such as Tseung Kwan O, to the Urban Renewal Authority or related bodies for non-local rehousing under the “flat-for-flat” arrangement. While the current “seven-year-old flat” compensation benchmark has its basis, the Government may also consider offering more attractive exchange terms to older building owners as an incentive to expedite relocation and redevelopment progress.
We believe that such measures would not only reduce the substantial upfront cash outlay at the initial stage of redevelopment and ease liquidity pressure on the Urban Renewal Authority but also enable capital recycling upon project completion and sale, thereby establishing a financially sustainable urban renewal model with a virtuous funding cycle.
Response to the Budget 2026/2027 by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:
We agree with the Government’s decision, having regard to prevailing market supply and demand conditions, to continue refraining from the sale of commercial sites in the coming year. As at the end of the fourth quarter last year, the overall availability rate of Grade A offices in Hong Kong stood at approximately 20.3%. The temporary suspension of commercial land sales will allow the market to gradually absorb existing vacant floor space and help stabilise the office market. Nevertheless, the Government should review market conditions regularly and resume the sale of commercial sites in a timely manner when appropriate.
Regarding collaboration between the Hong Kong Investment Corporation and market capital to guide funds towards quality commercial property projects aligned with Hong Kong’s industry positioning, and to facilitate matching between such projects and enterprises in target sectors, we consider the overall direction to be positive and consistent with market-oriented principles. This approach can enhance the efficiency of matching projects with enterprises, provide more suitable premises for emerging industries such as innovation and technology and medical research, and inject new demand into the commercial property sector.
Sandy Ridge data facility cluster to enhance Hong Kong’s data hub position
The Government has accelerated efforts to promote the industrialisation of artificial intelligence (AI), encouraging its wider adoption and deeper integration across industries. Over the longer term, this will substantially increase demand for computing power, thereby strengthening local absorption capacity for high-specification data centre facilities.
Regarding the proposed data facility cluster at Sandy Ridge, which will provide over 2.5 million square feet of gross floor area, this represents approximately 25% of Hong Kong’s existing data centre stock of around 10 million square feet, marking a rare large-scale supply in recent years. Should the project be successfully tendered, it will provide the high-power capacity and infrastructure necessary to support AI development, and in the longer term enhance Hong Kong’s position as a data hub within the Greater Bay Area and across Asia.
Strengthening Hong Kong’s Position as an International Maritime Hub and Responding Flexibly to Logistics Land Needs
The Government has proposed supporting the national maritime strategic development, advancing the elevation of Hong Kong’s status as an international maritime centre, and accelerating the smart transformation of the logistics industry as well as the expansion of cargo hinterland. The reservation of approximately 32 hectares of land in the Hung Shui Kiu/Ha Tsuen New Development Area for the development of a modern logistics hub will further help consolidate Hong Kong’s role as an international maritime centre. However, we consider that in developing a modern logistics industry park, the Government should adopt a market-oriented, enterprise-centred approach, in order to respond flexibly to the needs of businesses and offer appropriate incentives to attract enterprise participation.
Diversified Policies and Continuous Investment to Energise Retail Consumption and Leasing Market
We welcome the Government’s introduction of diversified initiatives and continued funding to promote Hong Kong’s exhibition industry, incentive travel, revitalisation of historic buildings, international cruise development, major sports events, harbourfront enhancement works and the “urban-rural integration” initiatives. Through these targeted and wide-ranging programmes, Hong Kong will be able to attract visitors of different segments and spending power, broaden its visitor base and enhance the overall competitiveness of the tourism industry. We believe these measures will drive the development of high value-added economic activities, further stimulate local retail consumption and invigorate the shop leasing market, thereby injecting additional momentum into the overall economy and delivering long-term benefits.
We remain optimistic about the medium- to long-term outlook for retail rents in Hong Kong. As the relevant policies are progressively implemented and tourism continues to strengthen, we expect retail rents to show more positive adjustments.
Response to the Budget 2026/2027 by Rosanna Tang, Executive Director, Head of Research, Hong Kong of Cushman & Wakefield:
With the implementation of various talent admission schemes, the planning of the Northern Metropolis University Town, and policies aimed at attracting outstanding students from around the world to study in Hong Kong, demand for residential accommodation and student hostels is expected to continue rising.
The Development Bureau earlier announced the rezoning of three commercial sites in Kai Tak, Siu Lek Yuen in Sha Tin and Tung Chung East for post-secondary student hostel use, which are expected to provide around 4,500 hostel places. The further implementation of relevant measures in this Budget will help alleviate the shortage of hostel places and, in the longer term, ease rental pressure in the residential market, supporting the healthy development of the property market.
However, as student hostel projects are not permitted for strata-title sale and typically involve a longer payback period, we recommend that the Government provide appropriate incentives in the land sale conditions. For example, priority could be given to sites located near post-secondary institutions, and greater flexibility could be offered in land premium arrangements or tender terms to encourage active participation by developers.
Northern Metropolis University Town
Regarding development of Northern Metropolis University Town, the Government has demonstrated its commitment to expediting the development of higher education and advancing the “Study in Hong Kong” initiative by granting three sites in the Hung Shui Kiu/Ha Tsuen New Development Area and earmarking HK$10 billion in loans to support campus construction. This will help further enhance Hong Kong’s overall attractiveness as a regional education hub.
We hope that, as student intake and campus sites are introduced into Hung Shui Kiu/Ha Tsuen, they will be closely aligned with the district’s industry positioning and functional roles, generating synergy. At the same time, a clear division of roles and complementary development should be established with future education sites to be launched in Ngau Tam Mei.
Response to the Budget 2026/2027 by Tom Ko, Executive Director, Head of Capital Markets, Hong Kong of Cushman & Wakefield:
We support the Government’s continued efforts to strengthen talent admission from both Mainland and overseas markets. However, this year’s Budget did not set out concrete measures to assist incoming talent in acquiring properties in Hong Kong. We recommend a calibrated adjustment of the investment threshold and an expansion of the categories of qualifying investment properties. Instead of restricting investment solely to non-residential assets, the Government could consider prudently incorporating selected residential properties into the scope.
At the same time, we propose a review of the banking and mortgage restrictions applied to non-local investors, with a view to enhancing flexibility in capital deployment and circulation. These refinements would help attract additional international capital and high‑calibre talent to establish a long‑term presence in Hong Kong.
Prudent Adjustment of Stamp Duty on Luxury Residential Properties
Regarding the Government’s increase in stamp duty on residential property transactions exceeding HK$100 million, and in line with the “affordable users pay” principle, we consider the adjustment to remain at a rational level. Nevertheless, in the short term, it may lead some potential buyers to defer their purchasing decisions. We believe that once the market has adjusted, transaction momentum in the luxury residential segment should remain resilient. We would encourage the Government to continue exercising prudence in adjusting stamp duty rates on luxury properties, so as not to undermine the overall attractiveness of Hong Kong’s property market.
Hashtag: #Cushman&Wakefield
The issuer is solely responsible for the content of this announcement.
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Foresight in volatility: APAC executives’ early pivot to regional trade provides critical buffer against global shocks
- Measured confidence amidst geopolitical volatility: Amidst ongoing geopolitical volatility, APAC leaders remain acutely aware of the shifting landscape. Notably, 29% cite geopolitical instability and social unrest as a top trend impacting their organisation over the next 12 months, outpacing the global average of 26% and tying with regulatory pressures. Consequently, growth expectations are tempered: while 83% still anticipate positive growth in 2026, this trails the global average of 92% and marks a decline from 84% in 2025.
- Expansion turns inward: Driven by geopolitical and tariff risks, expansion plans have shifted to regional neighbours, with China (36%), Australia (29%) and Hong Kong (29%) as the top destinations.
- AI is a net job creator: Defying global displacement fears, 43% of APAC leaders say AI has created new roles in their organisation, significantly outpacing the 28% who say it replaced them.
- The sustainability gap: While 91% are confident in meeting reporting compliance, only 73% feel prepared to manage the actual physical impacts of climate change.
Hashtag: #ForvisMazars #ForvisMazarsSingapore #APACBusiness #BusinessOutlook2026 #ExecutiveInsights #LeadershipTrends #AIAdoption #DigitalTransformation #Sustainability #ClimateResilience
http://www.forvismazars.com/sg
www.forvismazars.com/sg | https://www.forvismazars.com/group/en/who-we-are/geographic-footprint/asia-pacific |
https://www.linkedin.com/company/forvis-mazars-singapore
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SIM Global Education Highlights Holistic Student Life Experience Beyond the Classroom
Over at Singapore Institute of Management Global Education (SIM GE), student life is designed to complement academic learning through a holistic ecosystem known as Life @ SIM. The initiative brings together co-curricular activities, wellness and counselling support, and career development resources to support students throughout their academic journey. Community engagement forms a key pillar of student experience. SIM GE offers more than 80 student clubs and societies across sports, performing arts, cultural groups, entrepreneurship and community service. These student-led activities provide opportunities for students to pursue personal interests, develop leadership and teamwork skills while building connections with peers, across programmes, partner universities and an international cohort of students.
Wellbeing support is another important aspect of campus life. Recognising that university life can present academic and personal pressures, SIM GE provides wellness programmes and counselling services aimed at supporting students’ mental and emotional wellbeing. Workshops and resources are designed to help students manage stress, build resilience and develop essential soft skills that support both academic and personal growth.
Career readiness is also integrated into the student journey. Through SIM Career Connect, students have access to career advisory services, skills workshops and networking opportunities with industry partners. These initiatives aim to help students strengthen their employability while still in university and align their academic pathways with long-term career goals.
Campus facilities and shared spaces further support student interaction and collaboration outside formal academic settings. Study areas, collaborative spaces and venues for student activities provide environments where students can exchange ideas, grow their cultural quotient and build a sense of community.
As higher education expectations continue to evolve, institutions are increasingly expected to support students not only academically but also personally and professionally. By integrating community engagement, wellbeing support and career development into the student journey, SIM GE aims to provide an environment that prepares students for both their future careers and the broader challenges of a highly inter-connected but ever-changing world.
References:
- Singapore Institute of Management. – https://www.sim.edu.sg/degrees-diplomas/overview
- Singapore Institute of Management. Co-Curricular Activities and Student Clubs –
https://www.sim.edu.sg/degrees-diplomas/life-at-sim/co-curricular-activities - Singapore Institute of Management. Career Connect / Career Services –
https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services - SIM Global Education. Student Life and Campus Experience –
https://project1095.simge.edu.sg
SINGAPORE – Media OutReach Newswire – 11 March 2026 -Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
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CollectForU Expert and Debt Hunter Jointly Report Critical Credit Risk Management Gaps Among Hong Kong SMEs
Widespread Absence of Credit Defense Mechanisms
According to the findings, more than 70% of Hong Kong SMEs lack robust credit defense mechanisms. The report highlights that many businesses fail to perform in-depth credit due diligence on new clients or establish firm payment thresholds.
Alex Yeung, founder of CollectForU Expert, noted that a high percentage of SMEs remain in a state of low defense regarding credit management. Yeung emphasized that bad debts in B2B transactions often have a domino effect. He stated that if a company focuses solely on gross margins while ignoring the operational stability of a counterparty, a single large-scale default could potentially eliminate an entire year of net profit. He recommends that businesses establish standardized defense systems including background checks, credit limit settings, and continuous monitoring to ensure operational safety.
The 90-Day Recovery Threshold
The joint report identifies the 90-day mark as a critical watershed for the successful recovery of overdue accounts. Many SME owners hesitate to take action during the early stages of delinquency to preserve client relationships, which inadvertently increases the risk of asset dissipation or insolvency proceedings by the debtor.
Obis Tsang, founder of Debt Hunter and a professional mediator, stated that the success rate of commercial debt recovery is inversely proportional to the duration of the delinquency. Once a debt is overdue by more than 90 days, the probability of recovery decreases significantly. Tsang suggested that early intervention by specialized third parties should be viewed as a rational tool for commercial negotiation. Engaging mediation-focused professionals can facilitate viable repayment plans and prevent the loss of claims due to excessive delays.
Strategic Recommendations for SMEs
In response to the current economic environment, both institutions advise SMEs to adopt a proactive approach to credit defense rather than waiting for defaults to occur:
- Strengthen Pre-Contract Screening: Implement standardized credit assessments before finalizing commercial agreements.
- Establish Warning Mechanisms: Define clear payment deadlines and take immediate action when clients breach these thresholds.
- Seek Timely Professional Assistance: Introduce expert third-party advice early in the delinquency period to stabilize cash flow.
CollectForU Expert and Debt Hunter intend to continue their collaboration to standardize credit management practices and enhance the financial resilience of Hong Kong SMEs.
Hashtag: #CreditManagement #AccountsReceivable #CollectForU #DebtHunter #DebtCollection #HongKongSMEs
https://www.debt-hunter.com/en
https://www.linkedin.com/company/debt-hunter
https://www.facebook.com/DebtHunterHK
Wechat: DebtHunterHK
https://www.instagram.com/debthunterhk
The issuer is solely responsible for the content of this announcement.
About Debt Hunter
Debt Hunter is a commercial debt resolution agency founded by professional mediator Obis Tsang. The firm prioritizes negotiation and mediation as its core service philosophy. Debt Hunter was awarded the “Mediate First” Pledge Star Logo Award by the Hong Kong Department of Justice, in recognition of its commitment to mediation practices. Recognized by HackerNoon as a “Startups of the Year 2023” in Hong Kong, the firm employs a strategy involving legal compliance, behavioral insights, and big data to resolve commercial disputes. The agency has processed over 10,000 commercial cases to provide rational asset protection for its clients.
Website:
https://www.debt-hunter.com/en
About CollectForU Expert
CollectForU Expert was founded by Alex Yeung, who possesses over 15 years of practical experience in commercial debt recovery and credit management. The firm provides integrated solutions ranging from credit risk early-warning systems to accounts receivable recovery, with a focus on maintaining corporate reputation and long-term partnerships. CollectForU Expert utilizes behavioral psychological analysis and commercial negotiation techniques to resolve complex financial disputes and helps SMEs optimize internal credit processes.
Website:
https://www.collect4u-expert.com
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