The Real Estate Developers Association (REDA) of Hong Kong on Tuesday issued a statement expressing support for the Hong Kong Special Administrative Region (HKSAR) government's decision to postpone the 2020 Legislative Council (LegCo) election in a bid to preserve public health.

The COVID-19 outbreak has not only affected the daily lives of the people of Hong Kong and put heavy stress on the healthcare system, it has also imposed great challenge for the restart of the economy, the REDA said in the statement.

The REDA said that in order to protect the health of Hong Kong residents and ensure a fair and open election, postponing the LegCo election is a difficult but inevitable decision.

"We look forward to seeing the HKSAR government's anti-epidemic measures attaining results thereby returning Hong Kong to a state of normalcy soon," it said.

Founded in 1965, the REDA is one of the leading business groups in Hong Kong.