Kai Tak Facility Won't Be Out Of Public's Reach

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

Related News Programmes

"); });

2019-04-27 HKT 10:21

Share this story

facebook

  • Sports Commissioner Yeung Tak-keung has stressed that the SAR's new Kai Tak Sports Park will be affordable for members of the public to use. Photo: RTHK

    Sports Commissioner Yeung Tak-keung has stressed that the SAR's new Kai Tak Sports Park will be affordable for members of the public to use. Photo: RTHK

Sports Commissioner Yeung Tak-keung has expressed confidence that the future Kai Tak Sports Park would not go over budget, and that it could finish in 2023 as scheduled.

Yeung noted the contractor will face a daily fine of HK$4.3 million if the project is not completed on time.

The 28-hectare mega sports park, with an estimated construction cost of HK$30 billion, will house a main stadium that can accommodate 50,000 spectators for football and rugby matches, as well as other events like concerts.

It also has an indoor sports centre.

Yeung added that there are mechanisms to make sure sports facilities will be accessible to the public, as future operators will be required to make sure people can book them at affordable prices.

The Chief Executive, Carrie Lam has said the completion of the Kai Tak project will help the SAR host more major international events. Currently, it relies heavily on the Hong Kong Stadium.

RECENT NEWS

TOPPAN Edge Becomes Japans First Qualified VLEI Issuer

The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more

SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more

Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin

South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more

China Funds Research On Stablecoins And Cross-Border Oversight

China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more

XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership

XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more

Brinc Launches VentureVerse Through Acquisition Of OG Club

Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more