Hong Kong Apartment Lottery

Posted on 29 May, 2021 | By Property852

To help combat the sluggish vaccination rates, several of Hong Kong's wealthiest property tycoons have announced an incredible and unprecedented lottery drawing, offering the country's residents a chance at winning the grand prize of a brand new residential flat, valued at HK$10.8 million (USD$1.4 million).

On Friday, the Sino Group, Chinese Estates Holdings, and the Ng Teng Fong Charitable Foundation all made a joint announcement, stating that they would sponsor the lucky draw for the one-bedroom flat located in Kwun Tong and measures out at 449-square feet.

To enter the drawing, you must have received both doses of the Covid-19 vaccination and hold a permanent resident identity card in Hong Kong. They confirmed that those vaccinated before Friday's announcement would also be included in the drawing while also state that the cutoff date for entries would be September 1st.

In addition to the grand prize, the companies stated that they would sponsor 20 additional prepaid or credit cards, each valued at HK$100,000. The cash prize drawings will allow for foreigners with an employment visa to also enter.

The number of vaccinated residents in Hong Kong is well below the 70% required for herd immunity. To date, the current percentage of the country's 7.5 million to have received the first shot is 17.6%, while those that have received both is below 13%.

As of Friday's announcement, there have been no new cases of the coronavirus. This marks a second-day streak that has not been seen in over six months.

In other news, a Covid-19 mobile station was set on fire in Tsuen Wan. Police are currently launching an investigation to find the arsonist.

The property-based incentive has created quite a buzz throughout the city. While other countries have used smaller incentives ranging from food, to cash, to even beer, Hong Kong's offer of a flat is certainly the most ambitious.

Medical experts throughout the city have shown widespread agreement with the decision. Individuals such as David Hui Shu-cheong (Respiratory Disease Specialist), Keiji Fukuda (Head of the University of Hong Kong's School of Public Health), and Leung Chi-chiu (Respiratory Disease Specialist) all vehemently agree that the drawing will do considerable good in bringing more hesitant residents of the city in for both doses of vaccinations.

Leung, in particular, brought attention to the startling resurgence of infections found in the Guangzhou province, where tens of thousands are desperate for the vaccine.

Asked what he thought would help continue vaccinated usage, Leung responded, "...to restore the vaccination momentum requires the government to clarify misunderstandings on the side-effects of the vaccine."

Those with illnesses can be vaccinated once their conditions have stabilized. Despite the government's refusal to host cash lottery incentives, those from Northwestern University's business school in the US have suggested that it could prove very effective at convincing those still too hesitant to take it.

Carrie Lam Cheng Yuet-ngor, the Chief Executive, stated earlier this week, that she would not consider any option, even warning that it may actually be counterproductive.

This has forced the private sector to create initiatives of their own. The Hong Kong Airport Authority announced a lottery prize of a free airline ticket to 60,000 vaccinated residents. This was echoed by the Hong Kong Jockey Club, which offered three days of additional leave to all of their vaccinated staff.

Still, the vaccine hesitancy throughout Hong Kong has been reflected in the city's surplus. With less people accepting inoculation than ever, and ever-looming expiration dates on many of the vaccines, officials have warned that Hong Kong could have less bargaining power for later doses in an instance of future global shortages.

SHARE

• 
•