Govt Plans New Town In Tseung Kwan O

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2023-01-19 HKT 17:05

Share this story

facebook

  • The government doesn't have an estimated cost for the project but says it will be a worthwhile investment. Image courtesy of Legco.

    The government doesn't have an estimated cost for the project but says it will be a worthwhile investment. Image courtesy of Legco.

  • Authorities are planning a smaller reclamation project (coloured areas on the left) apart from the main development (coloured areas on the right). Image courtesy of Legco.

    Authorities are planning a smaller reclamation project (coloured areas on the left) apart from the main development (coloured areas on the right). Image courtesy of Legco.

The government on Thursday unveiled a plan to build a new town with homes for around 135,000 people in the southernmost part of Tseung Kwan O.

The Development Bureau has identified 80-hectare "Area 137", which is now mainly used to store reclamation materials, as a rare piece of land for development in an urban area.

But the bureau's spokesperson said they would still need to reclaim 20 hectares of land for the project, in order to build 50,000 flats of which 70 percent will be public housing.

It is expected that some 12,600 flats will be ready for people to move into by 2030.

The town will feature a 1.4-kilometre waterfront promenade, as well as a recreational and commercial hub at its centre.

Authorities are looking to connect the new development to Lohas Park MTR Station by constructing a southern extension to the Tseung Kwan O Line.

The spokesperson said they are aiming to start a reclamation project next to Junk Bay Chinese Permanent Cemetery in 2025, in order to relocate the facilities currently in Area 137.

The spokesperson did not give an estimate as to the cost of the whole project, but said it will be a "worthwhile investment".

Legislators will discuss the plan at a panel meeting later this month before authorities consult Sai Kung District Council.

RECENT NEWS

Manulife Names Wilton Kee As CEO For Hong Kong And Macau

Manulife has appointed Wilton Kee as the new Chief Executive Officer for its Hong Kong and Macau operations, effective ... Read more

Banks Are Not Ready For AI | Singapore AI CxO Roundtable

In this exclusive roundtable jointly hosted by Fintech News Network and Alteryx, senior banking leaders in Singapore sh... Read more

Mizuho Bank To Invest In Rakuten Bank In October

Mizuho Bank will shift its investment into a 5.81% stake in Rakuten Bank, according to Japan Today. The move allows the... Read more

Forthright Subsidiaries Secure SFC Approval For Virtual Asset Services Across 3 Licenses

Forthright Securities and Forthright Capital have received approval from the Securities and Futures Commission (SFC) to... Read more

SFC Names Elisa Ng To Lead Investment Products, Reappoints Lisa Chen

The Securities and Futures Commission (SFC) has appointed former J.P. Morgan Asset Management executive Elisa Ng as its... Read more

Mastercard And JD.com Partner To Expand Cross-Border Payment Options In China

Mastercard and JD.com have entered a strategic partnership to develop cross-border supply chain finance tools for busin... Read more