'Kai Tak Temporary Flats May Add To Transport Woes'
"); jQuery("#212 h3").html("

"); });
2023-01-31 HKT 16:23
The head of the Real Estate Developers Association (REDA), Stewart Leung, on Tuesday expressed concern about a traffic overload in Kai Tak, following the building of light public housing there.
The government plans to build 10,700 temporary flats on Olympic Avenue, near the Kai Tak MTR station.
Speaking to reporters after attending a regular REDA meeting, Leung said developers generally welcome the idea of building short-term housing because there’s a high demand for them in society.
But he's worried that the Kai Tai station may be overloaded, as there are also several other private developments on the former runway that are almost complete.
"So our only worry is transport - whether it will jam up the entire Kai Tak district. The government has told us that they have some solution to a degree," Leung said.
"In this aspect, we think as the government has made this promise, especially that the government has the need for temporary housing, it's impossible for us to oppose this."
The Kai Tak site is one of eight plots earmarked to build some 30,000 light public flats. The government is to seek HK$26.4 billion in funding from the legislature in phases.
In papers submitted to the Legislative Council, the Housing Bureau said the total sum is HK$950 million less than initially planned due to improvements in construction methods, as well as dropping air conditioners and one exhaust fan from each unit.
Fraud & AML In Asia: What Banks Need To Know In 2026
Fraud and AML in Asia have shifted over the past year. Alongside the system-level attacks that continue, panellists poi... Read more
Hong Kongs Total AUM Hits Record HK$42.2 Trillion In 2025
According to the Securities and Futures Commission (SFC), Hong Kong’s total assets under management (AUM) reached a r... Read more
Hyundai Card Leverages Apple Pay To Target Gen Z Users
Hyundai Card launched six new debit and hybrid cards tailored to Apple Pay users in April. The South Korean issuer is t... Read more
DBS And Samsung Securities Partner For Global Wealth Expansion
DBS has signed a MoU with South Korea’s Samsung Securities to establish a strategic partnership in wealth management.... Read more
RedotPay Selects OpenPayd For Treasury Operations And Global Remittances
RedotPay has selected OpenPayd to enhance its treasury operations and cross-border remittance services. The company wil... Read more
JCB Rolls Out Contactless Transit Payments Across Taipei Metro
JCB has rolled out contactless payment acceptance on the Taipei Metro. The integration allows cardholders to tap physic... Read more