Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations convenes meeting
A meeting of the Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations, chaired by the Under Secretary for Housing, Mr Victor Tai, was convened this afternoon (August 4).
The Assessment Committee agreed to subsidise the development of the transitional housing (TH) project at the former Hong Kong Taoist Association Wun Tsuen School at Upper Ngau Tau Kok Estate in Kwun Tong by the Christian Family Service Centre. With a total funding of $66.55 million, the project is expected to provide 121 units.
As at end of July 2026, over 21 150 TH units have been put into service. TH will supplement Light Public Housing (LPH) to provide temporary accommodation to eligible applicants in need of adequate housing. Eligible TH applicants include Category A tenants (i.e. persons/families having been waiting for traditional public rental housing (PRH) for not less than three years; families with newborns andhavingbeen waiting for traditional PRH for not less than two years); Category B tenants (i.e. persons/families of other categories); and Category C tenants (i.e. residents of subdivided units (SDUs) affected by alteration works in SDUs, or future enforcement actions under the Basic Housing Unit (BHU) regime, who have been assessed to have an urgent need for temporary rehousing). TH and LPH, coupled with the current-term Government's ongoing efforts to substantially increase the supply of public housing, have enabled us to tackle the long-standing issues of substandard SDUs through the implementation of the BHU regime.
The Assessment Committee for the Funding Scheme to Support Transitional Housing Projects by Non-government Organisations agreed today (August 4) to subsidise the development of the transitional housing project at the former Hong Kong Taoist Association Wun Tsuen School at Upper Ngau Tau Kok Estate in Kwun Tong by the Christian Family Service Centre. Source: HKSAR Government Press Releases
Government launches new batch of Silver Bond
The Government announced today (August 6) the launch of a new batch of Silver Bond for subscription by eligible Hong Kong residents.
The target issuance size of this batch of Silver Bond is HK$50billion, with each unit offered at HK$10,000 and a tenor of three years. Interest will be paid semi-annually at a rate linked to inflation in Hong Kong, subject to a minimum of 4.25 per cent. The Government may exercise discretion to increase the target issuance size to a maximum of HK$55 billion from HK$50 billion, subject to market response. Hong Kong residents who turn 60 in or before 2027 (i.e. those born in 1967 or before) holding a valid Hong Kong Identity Card will be eligible for subscription.
The bonds are offered under the retail part of the Infrastructure Bond Programme. Proceeds will be credited to the Capital Works Reserve Fund for investment in infrastructure projects in accordance with the Infrastructure Bond Framework. The Government will provide information on the allocation of the proceeds in the relevant Infrastructure Bond Reports.
The Financial Secretary, Mr Paul Chan, said, "The Hong Kong Special Administrative Region Government continues to issue Silver Bond this year, offering senior citizens a safe, steady and low-risk investment option while encouraging the financial sector to tap into the business potential of the silver economy. Issued under the Infrastructure Bond Programme, proceeds from this batch of Silver Bond will be used to fund public works projects to push ahead Hong Kong's infrastructure and urban development, enhancing people's quality of life while enabling citizens to participate in and benefit from the city's development."
There will be no secondary market for Silver Bond. Bondholders may sell their bonds before maturity to the Government at par together with accrued but unpaid interest. To encourage greater participation from citizens, a maximum allocation of HK$1 million per investor is stipulated, meaning that each investor is allocated 100 units of retail bonds at most.
The subscription period of Silver Bond will start from 9am on August 21 and end at 2pm on September 4. The bonds will be issued on September 15. Eligible Hong Kong residents may apply for the bonds through one of the placing banks and designated securities brokers. The offering terms and subscription arrangements of Silver Bond, including the list of placing banks and designated securities brokers, will be available on the Hong Kong Government Bonds website (www.hkgb.gov.hk).
Source: AI-found images
