Hong Kong property scion says social housing a top priority

- Pic by Bloomberg

"When any decent-minded person sees these new immigrant families, just people lining up, living in these subdivided units in the city, you would have a heart for them, ” the 36-year-old tycoon said in an interview ahead of Friday’s announcement."Especially us being in the situation, we can do quite a lot more.”

Kwok said this particular project started in June, before the protests erupted, and so wasn’t related to the demonstrations. He declined to be drawn on the current political situation. Hong Kong’s richest man, Li Ka-shing, of CK Asset Holdings Ltd., has offered HK$1 billion to help small and medium-sized businesses impacted by the protests.

There is a Chinese proverb that says, Wealth never lasts for three generations: First Generation creates the wealth, Second Generation grows the wealth, Third Generation spends the wealth. He is Second.

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