RICS publishes response to Hong Kong Policy Address 2025
The Royal Institution of Chartered Surveyors (RICS) has published its response to Hong Kong's 2025 Policy Address, setting out recommendations across three strategic government initiatives. RICS proposes establishing a Long-Term Development Financing Scheme led by the Hong Kong Monetary Authority to provide preferential loans tied to GDP growth or project performance for the Northern Metropolis development. The organisation recommends broadening Public-Private Partnership models beyond traditional Build-Operate-Transfer arrangements to include joint ventures and availability-based frameworks, supported by a dedicated PPP and Finance Advisory Panel. For education and talent development, RICS suggests tax concessions or yield support to incentivise private investment in student accommodation and proposes including AI/BIM specialists and sustainable building certifiers in talent schemes. The response also recommends streamlining approvals through centralised digital platforms, urban renewal policies with zoning flexibility for underutilised industrial land, and centralised procurement for modular construction components. The recommendations aim to address challenges from elevated interest rates and global trade volatility affecting Hong Kong's built environment sector.