Press Release

Press Statement on Leasing Arrangements of Jat Min Chuen Market Stalls

The Hong Kong Housing Society (HKHS) today (24 November) made the following statement, in response to the protest initiated by Jat Min Chuen Commercial Association regarding the leasing arrangements of Jat Min Chuen wet market stalls:
 
Since November 2012, HKHS has been implementing an Open Letting Policy on the basis of open, fair and impartial principles.  According to the Policy, if the existing tenant of general shops had leased the commercial premises for a total term of 6 years, the premises must be subject to open letting in the market instead of direct negotiation for renewal with the existing tenant.  The aim of which is to strike the best balance among the interests of existing tenants, prospective tenants and residents.  In the assessment of tenancy applications, HKHS would not take the rent offer as the sole consideration but also review if the proposed rent meets with the market valuation, the applicants’ financial situation, their experience in the relevant trade, suitability of the trades and services for satisfying the needs of the residents and attracting patronage.  According to past record, over 90% of the existing tenants including small operators have successfully renewed their leases. 
 
Since implementation, the Policy has been an effectual practice in the past six years.  Apart from enhancing the shopping environment and the trade mix to better suit the needs of residents, the entry of new tenants also improves the overall business environment of the shopping centre and wet market, and eventually brings about more visitor flow while achieving synergy effect with other shop operators.
 
HKHS expressed its gratitude to all parties for their concern about the wet market letting arrangements in Jat Min Chuen.