Citi | Hong Kong Property: Five-Year Planning and the Policy Address: Focus on the Northern Metropolis, Talent and Students, Urban Renewal and Public Housing
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Citi's Hong Kong property chart pack frames the five-year planning exercise and the upcoming Policy Address around four themes: the Northern Metropolis, talent and students, urban renewal and public housing. The headline charts show the government's developable land creation target 4% lower, while private housing completions are projected to decline 8% over the next five years to 1,700 units. Public housing completion targets are 4% higher, and the government targets HK$40 billion of redevelopment investment over five years, up 11%. A further chart tracks the Development Bureau's progress and projections for the Northern Metropolis. For market context, Citi presents NAV discounts for Hong Kong rental property stocks and sector valuations as of the 16 September 2026 close. The set highlights a tightening private supply pipeline alongside expanded public housing and redevelopment commitments, with land creation targets moving in the opposite direction—leaving valuations and NAV discounts as the stock-level reference points.
Key exhibits
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