Hang Lung’s Outgoing Chairman Warns Hong Kong Against Overreliance on Real Estate

Hong Kong can’t continue to over-rely on real estate for economic growth, outgoing Hang Lung Group Ltd. Chairman Ronnie Chan said.

The fact that Hong Kong has maintained property as a pillar of its economy since the British handover of the territory in 1997 has been “relatively dangerous,” Chan said at a forum on Wednesday.

He warned that Hong Kong’s high land price policy has its limitations and should not carry on too far.