Room to grow

Room to grow Ivy Ong-Wood Thursday, March 13, 2014 Wannabe farmers frustrated by the lack of space in Hong Kong should take inspiration from Jones Lang LaSalle's first urban farm in the heart of the city. The real estate agent teamed up with local social enterprises Time to Grow and Sowers Exchange to cultivate the farm on the roof of the Bank of America Tower in Central. The aim of the farm, which will grow a variety of vegetables, is to raise awareness about the potential to make Hong Kong a more livable, healthy and sustainable city. William Lai Hon-ming, JLL's head of property management, said: "The urban farm will send a very important message to the community, particularly those working or living in urban areas such as Central: that it is always possible to improve the sustainability of our food system." Covering more than 300 square meters, the farm is one of the largest in Hong Kong. It is unique given its location within the central business district. Its height allows it to benefit from unobstructed access to sunlight. Only one day was needed to plant the farm after it had been set up with direct water access. Twenty volunteers from the real- estate firm spent an afternoon sowing seeds, with the resulting vegetables being tended to under the ongoing care of Time to Grow. Pol Fabrega, Time to Grow's co- founder said: "Our shared goal in this project is to bring the community together, promote employee engagement and raise awareness about some of Hong Kong's most important environmental and social i ssues." The benefits urban farming can bring to communities can be seen in cities such as New York and Detroit. In Havana, Cuba, almost 200 urban allotments provide four million tons of vegetables each year. Andrew Tsui Ka, co-founder at Time to Grow, said: "The urban farm sets a great example to the community in Hong Kong. "It demonstrates the feasibility and value of urban farming - and that it is possible to lead a sustainable lifestyle even within the urban areas of Hong Kong."

Li says Occupy Central will hurt HK

Tycoon Li Ka-shing has criticised the planned Occupy Central campaign, saying it would be harmful to Hong Kong. Mr Lee said the movement would give a bad image to others and would damage Hong Kong and local people. The property tycoon also urged local people not to oppose individual travellers from the mainland because they'd contributed greatly to Hong Kong's economic growth. He said it was completely wrong to scold tourists, adding that Hong Kong would be in difficulty without the support of the mainland. Speaking at a news conference to announce his company's financial results, Mr Li also described as a "joke" people who accused him of withdrawing assets from Hong Kong - saying it's normal for businesses to buy and sell. He said he wanted to continue to invest in the territory but had to see if projects were profitable. The 85-year-old Mr Li said he hadn't thought about retirement and said he was lucky to enjoy very good health. But he said his son Victor had been right next to him in all of his companies' meetings and he'd be ready to take up the torch at any time. Refernece: http://rthk.hk/rthk/news/englishnews/20140301/news_20140301_56_988629.htm

44% of rich HK investors own overseas properties - HSBC survey

A HSBC survey suggested affluent people in Hong Kong expressed strong demand for property investment overseas. 44% of respondents said they owned overseas properties, following 55% in Indonesia and 45% in mainland China. A total of 2,700 wealthy people in seven Asian countries and regions, including Hong Kong, India, Indonesia, mainland China, Malaysia, Singapore and Taiwan, who held overseas properties, were interviewed. Australia is the first choice for the rich in Asia, particularly those in Southeast Asia, to buy properties. Ten percent of Hong Kong people said they had purchased flats in Australia. AAStocks Financial News Web Site: www.aastocks.com