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postgraduate thesis: To evaluate the social and economic impacts of privatization on the shopping centres of Hong Kong Housing Authority : a case study on The Link REIT

TitleTo evaluate the social and economic impacts of privatization on the shopping centres of Hong Kong Housing Authority : a case study on The Link REIT
Authors
Issue Date2014
PublisherThe University of Hong Kong (Pokfulam, Hong Kong)
Citation
Lau, W. [劉為豪]. (2014). To evaluate the social and economic impacts of privatization on the shopping centres of Hong Kong Housing Authority : a case study on The Link REIT. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b5334679
AbstractShopping centres play important roles in the public rental housing estate system. They function as socio-economic mediums among local residents. According to Hong Kong Housing Authority (HKHA), the Hong Kong government (the government) provides rent supplements with local tenants to encourage them to develop their own businesses. As a result, local and small-scaled businesses have been developing steadily. Home Ownership Scheme (HOS) is a private-subsidized housing scheme implemented by HKHA. The sale of HOS‟s housing units is HKHA‟s major source of income. Yet, the government suspended HOS because of the financial crises broken out in 1997, which reduced HKHA‟s revenues dramatically. Despite the fact that the demand of rental public housing was increasing, HKHA had inadequate resources for public housing development. Thereupon, the government decided to privatize their assets (shopping centres, market stalls, cooked food stalls and car parks) by transferring them to a private sector – The Link Real Estate Investment Trust (The Link). Privatization is a common economic tool for governments that can increase revenues in a short period. Nonetheless, privatization has numerous negative impacts. Before privatization, the social and political parties had a hostile attitude towards privatization. They doubted whether The Link would change the existing business strategies and focus on profit maximization through increasing the rent from tenants unreasonably. Nevertheless, HKHA decided to privatize its assets in November 2005. The Link has been taking the overall management role in the privatized assets for almost 9 years. It has been criticized for over-emphasizing on business maximization by sacrificing public and social interests. This study is to discuss and evaluate the socio-economic impacts of privatization and The Link on the public estates. Questionnaires for the visitors and tenants, observations for the social events of The Link and searched for the news and annual reports of The Link had been carried out for evaluating the actual social and economic impacts from the daily operations of The Link. The results show that both of the positive and negative aspects of the social and economic impacts are caused by The Link after privatized the assets from HKHA. It is encouraged that the government and the service provider should review the effectiveness of the progress. In addition, those negative impacts which caused by privatization can be turned to be positive if the government and the private sectors work together on regular review and continuous improvements.
DegreeMaster of Housing Management
SubjectPrivatization - China - Hong Kong
Shopping centers - China - Hong Kong - Management
Dept/ProgramHousing Management
Persistent Identifierhttp://hdl.handle.net/10722/207636

 

DC FieldValueLanguage
dc.contributor.authorLau, Wai-ho-
dc.contributor.author劉為豪-
dc.date.accessioned2015-01-12T23:18:53Z-
dc.date.available2015-01-12T23:18:53Z-
dc.date.issued2014-
dc.identifier.citationLau, W. [劉為豪]. (2014). To evaluate the social and economic impacts of privatization on the shopping centres of Hong Kong Housing Authority : a case study on The Link REIT. (Thesis). University of Hong Kong, Pokfulam, Hong Kong SAR. Retrieved from http://dx.doi.org/10.5353/th_b5334679-
dc.identifier.urihttp://hdl.handle.net/10722/207636-
dc.description.abstractShopping centres play important roles in the public rental housing estate system. They function as socio-economic mediums among local residents. According to Hong Kong Housing Authority (HKHA), the Hong Kong government (the government) provides rent supplements with local tenants to encourage them to develop their own businesses. As a result, local and small-scaled businesses have been developing steadily. Home Ownership Scheme (HOS) is a private-subsidized housing scheme implemented by HKHA. The sale of HOS‟s housing units is HKHA‟s major source of income. Yet, the government suspended HOS because of the financial crises broken out in 1997, which reduced HKHA‟s revenues dramatically. Despite the fact that the demand of rental public housing was increasing, HKHA had inadequate resources for public housing development. Thereupon, the government decided to privatize their assets (shopping centres, market stalls, cooked food stalls and car parks) by transferring them to a private sector – The Link Real Estate Investment Trust (The Link). Privatization is a common economic tool for governments that can increase revenues in a short period. Nonetheless, privatization has numerous negative impacts. Before privatization, the social and political parties had a hostile attitude towards privatization. They doubted whether The Link would change the existing business strategies and focus on profit maximization through increasing the rent from tenants unreasonably. Nevertheless, HKHA decided to privatize its assets in November 2005. The Link has been taking the overall management role in the privatized assets for almost 9 years. It has been criticized for over-emphasizing on business maximization by sacrificing public and social interests. This study is to discuss and evaluate the socio-economic impacts of privatization and The Link on the public estates. Questionnaires for the visitors and tenants, observations for the social events of The Link and searched for the news and annual reports of The Link had been carried out for evaluating the actual social and economic impacts from the daily operations of The Link. The results show that both of the positive and negative aspects of the social and economic impacts are caused by The Link after privatized the assets from HKHA. It is encouraged that the government and the service provider should review the effectiveness of the progress. In addition, those negative impacts which caused by privatization can be turned to be positive if the government and the private sectors work together on regular review and continuous improvements.-
dc.languageeng-
dc.publisherThe University of Hong Kong (Pokfulam, Hong Kong)-
dc.relation.ispartofHKU Theses Online (HKUTO)-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsThe author retains all proprietary rights, (such as patent rights) and the right to use in future works.-
dc.subject.lcshPrivatization - China - Hong Kong-
dc.subject.lcshShopping centers - China - Hong Kong - Management-
dc.titleTo evaluate the social and economic impacts of privatization on the shopping centres of Hong Kong Housing Authority : a case study on The Link REIT-
dc.typePG_Thesis-
dc.identifier.hkulb5334679-
dc.description.thesisnameMaster of Housing Management-
dc.description.thesislevelMaster-
dc.description.thesisdisciplineHousing Management-
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.5353/th_b5334679-

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