HONG KONG: Wheelock Properties Ltd. announced plans to donate several plots of land to charity for social housing in Hong Kong, following in the footsteps of fellow developers as anti-government protests continue to dog the city.
Hong Kong-based Wheelock will hand over 500,000 square feet (46,450 square meters) of land in the New Territories and Lantau Island to non-government organizations for a nominal sum of HK$1 ($0.13) for each plot. The plots can be used to construct apartments for people waiting for public housing and around 6,000 families are expected to benefit. The area represents approximately 7% of the developer’s total land bank, according to data compiled by Bloomberg.
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