RICS presents 2024 Hong Kong Policy Address Recommendations

The Royal Institution of Chartered Surveyors (RICS) released the 2024 Hong Kong Policy Recommendations setting out its strategy for Hong Kong's built environment, focusing on

1. Proper Land Use, Urban Development and Review on Property Usage,
2. Northern Metropolis Development,
3. Government Land Sale,
4. Achieving Net Zero in the Built Environment,
5. Regulatory Sustainability Requirement for Landlord and Tenants,
6. Technology Implementation on Property Management, and
7. Enhancing the Surveying Profession and Future Talent, including attracting and retaining talent.

The paper lists 31 recommendations which RICS believes the Hong Kong Government should take to meet these goals for the built environment. RICS is releasing these recommendations ahead of HKSAR Chief Executive, John Lee's Policy Address on 16^th October 2024.

The paper highlights proper land use strategy. There is a changing demand and business environment, to help adapt to possible market shift in the future, we advise the government to consider implementing interim policy measures in allowing unused commercial buildings/spaces into residential flats and other facilities, and devise policies and guidance to promote flexible buildings design and modifications of unused space. Other measures include chopping large construction projects into smaller segments to enable participation from small and medium-sized enterprises. We recommend the government to continue the lease modification (or a land exchange) for redevelopment of an Industrial lot (special time-limited arrangement for application for relaxation of development intensity) for another three years to encourage urban renewal.

RICS continues to advocate several fundamental changes to green policy for Hong Kong, including to build and mandate a common reporting standard for the life-cycle carbon emission of buildings, alongside the mandatory requirement for compulsory annual carbon reporting.

To enhance the surveying profession and future talents, RICS suggest recognizing global RICS surveyors as professionally qualified surveyors in public works consultancies and as resident quantity surveyors, and extend recruitment policies for graduates and overseas-trained professionals from Southeast Asian and belt-and-road countries

RICS Senior Public Affairs Officer, Seabook Yam, said: "Business environment keeps changing. There is a need to set up frameworks and guidance to adapt to the everchanging demands and RICS believes that these recommendations are exactly what Hong Kong's Built Environment needs. By implementing these measures, the built environment sector in Hong Kong will be able to tackle the challenges it faces, reinforcing Hong Kong's role as the 'Super Connector' between East and West, and setting the benchmark for its future development."

-ENDS-

Notes to Editors:

The policy recommendation paper is attached to this release.

Contact Mr. Seabook YAM at [email protected] for inquiries of the recommendations.