Hong Kong Unveils Massive Land Reclamation Plans
- Business & Finance
The Hong Kong Government yesterday revealed an ambitious plan for the construction of the Kau Yi Chau Artificial Islands and related key projects under the Lantau Tomorrow Vision plan.
According to Secretary for Development Michael Wong, the cost for the construction of Kau Yi Chau Artificial Islands, reclamation at Sunny Bay and Lung Kwu Tan, and the Tuen Mun coastal area development is estimated to be around $44.7 billion.
Mr Wong said: “This is a preliminary estimate. We’ve explained why. The detailed estimate will be subject to the coming studies, so it can be revised upwards or downwards,” adding that these projects will bring benefits to Hong Kong including direct economic contributions and social benefits.
Authorities also added that the Kau Yi Chau Artificial Islands (approx. 1000ha in size) will be the city’s most expensive infrastructure project to date.
The artificial island, if created, will make room for 150,000 to 260,000 new flats, 70% of which will be public housing. “We will continue to communicate with the public as to why this is worth our while. This is a good investment, this is good for Hong Kong, this resolves many of our problems,” Mr Wong said.
Mr Wong concluded that the start of this massive land reclamation project can be expected in 2025.