Govt Tables Bill To Expedite Land Development
"); jQuery("#212 h3").html("

"); });
2022-12-08 HKT 17:21
The government on Thursday said it is tabling an amendment bill to Legco to streamline a series of land development procedures, saying it can slash the time needed to turn plots of land into “spade-ready” sites from six to four years.
It also said, for large-scale projects such as new development areas, the time required will be compressed from 13 years to seven years.
The legislative amendments cover six ordinances relating to land resumption, land acquisition, reclamation, town planning, roads and railways.
One of the proposals, the Development Bureau said, is to conduct different land resumption procedures at the same time.
For example, authorities plan to rehouse and compensate residents affected as soon as the Chief Executive in Council grants approval for land resumption, without needing to wait for Legco to grant relevant funding.
The bureau's spokesperson said they believe it is unlikely that legislators will not support such projects, as there is a consensus that land supply should be expedited.
The government also wants to shorten the period for the Town Planning Board to submit draft plans to the Executive Council for approval after receiving feedback from the public.
The administration stressed that the time period for the public to submit views will not be changed, but they would no longer be allowed to make additional comments after the two-month period is over, as a lot of the follow-up feedback has proved to be repetitive in the past.
The bureau dismissed concerns that there was a lack of consultation before tabling the bill to Legco, saying they had exchanged views with stakeholders and fine-tuned some amendments in light of the feedback.
The spokesperson said, for instance, the government had considered only inviting some members of the public to hearings held by the Town Planning Board, but decided in the end that everyone who has submitted a view will continue to be allowed to take part.
The amendment bill will be gazetted on December 9, with its first reading in Legco scheduled for December 14. The Development Bureau said it hopes the bill will be passed in the first half of 2023.
Ant International And Bank Of China Partner To Enhance Cross-Border Payment Connectivity
Ant International and Bank of China (Hong Kong) (“BOCHK”) announced a partnership which leverages BOCHK’s banking... Read more
BitGo Korea Gets Green Light For Virtual Asset Custody, Backed By SK Telecom
BitGo Holdings, Inc. (BitGo) announced that its subsidiary, BitGo Korea, Inc. (BitGo Korea), received its Virtual Asset... Read more
Webinar: When Account Takeover Moves Past Onboarding
Account takeover shows why fraud risk cannot be treated as an onboarding problem. Fraudsters are using stolen credentia... Read more
JCB To Trial Stablecoin Payments In Japan With Digital Garage And Lawson
JCB Co., Ltd. (JCB), Digital Garage, Inc. (Digital Garage), and Lawson, Inc. (Lawson) announced that they have jointly ... Read more
Bonnie Chan To Lead HKEX Until Feb 2030 After Securing Second Term
The HKEX Board of Directors has approved the renewal of the employment contract of Hong Kong Exchanges and Clearing Lim... Read more
Ripple Signs Its First Korean Regional Bank In Cross-Border Remittance Deal
Ripple, a blockchain-based enterprise solutions provider for traditional and digital finance, announced a partnership w... Read more
