戴德梁行：发展北都或可容许强积金部分投资长期债券 善用市场效率与创新能力

Group 1 - The Hong Kong government aims to further promote the development of the Northern Metropolis, with support from the company for increasing the borrowing limit of two bond schemes to HKD 900 billion for financing this development [1] - The Mandatory Provident Fund (MPF) total assets reached approximately HKD 1.55 trillion by the end of December 2025, a historical high, suggesting that allowing a portion of these assets (e.g., 10%) to invest in long-term bonds for the Northern Metropolis could provide stable funding and a low-risk investment option for MPF members [1] - The company emphasizes the importance of public-private partnerships (PPP) in enhancing execution efficiency and alleviating government financial pressure, which could accelerate the Northern Metropolis development [1] Group 2 - The company suggests that the government should establish strategic "anchor institutions" to avoid unclear industrial functions in different areas, thereby enhancing the attractiveness of these regions [2] - The anticipated land supply for the upcoming year and the potential supply of private residential units over the next three to four years indicate a stabilization in land and housing supply, with recommendations for simplifying bidding terms to attract more developers [2] - The company highlights the need for a flexible and financially sustainable urban redevelopment strategy, urging the government to establish clear priorities for housing allocation to affected residents and tenants [2] Group 3 - The current acquisition model of the Urban Renewal Authority, which purchases properties at prices close to first-hand residential property prices, places a heavy financial burden on the authority, prompting the suggestion for optimizing the "flat-for-flat" mechanism to reduce cash compensation pressure [3]