HA to consider Budget for 2026/27
*********************************
At a meeting today (January 7), the Finance Committee (FC) of the Hong Kong Housing Authority (HA) endorsed the 2025/26 Revised Budget and the 2026/27 Proposed Budget.
Under the latest budgets and financial forecasts, it is envisaged that the HA will have the necessary financial resources to meet its recurrent and capital expenditures up to 2029/30.
The FC Chairman, Dr Billy Mak, said after the meeting, "The HA's construction expenditure will continue to rise beyond 2026/27 due to the increase in the number of new public housing projects. To ensure its long-term financial sustainability, the HA has made every effort to reduce construction costs in response to rising expenditure as much as possible. A Project Facilitation Office has been established to co-ordinate various departments to facilitate the completion of public housing projects and to enhance cost-effectiveness in public housing construction. In addition, the HA will trim its annual recurrent expenditure by 2 per cent for both 2026/27 and 2027/28."
Dr Mak added, "The HA will continue to explore various revenue-enhanced/cost-saving measures, for example, advancing the public housing supply in the direction towards a 60:40 ratio between public rental housing/the Green Form Subsidised Home Ownership Scheme and other subsidised sale flats to increase its income from sale of Home Ownership Scheme flats to cope with the rising construction expenditure."
Dr Mak said, "These financial forecasts will inevitably be changed over the next few years due to various factors. They will be updated in the next round of the budgeting exercise. The HA will no doubt stay vigilant and monitor closely, and review its income and expenditure situations."
The HA will hold an open meeting on January 19 to examine the budgets and financial forecasts. The budgets will be submitted to the Chief Executive for approval thereafter.
Ends/Wednesday, January 7, 2026
Issued at HKT 17:35
Issued at HKT 17:35
NNNN