Lantau Plan May Stop At 1,000 Hectares: Ronny Tong
"); jQuery("#212 h3").html("
"); });
2019-03-20 HKT 09:42
Executive Councillor Ronny Tong on Wednesday indicated that the government may not, in the end, push ahead with the full 1,700 hectare reclamation in its Lantau Tomorrow Vision project.
On Tuesday, the government announced it would first reclaim, 1000 hectares off Lantau to provide more housing at a cost of HK$624 billion – making it the city's most expensive infrastructure project.
Tong says it's money well spent: "Well obviously a responsible government has to listen to what the people of Hong Kong say.
"And bearing everything in mind, the government is now saying - as I understand it - we will start with just 1,000 hectares, which I think is a responsible way of doing things, and we'll see how it goes."
On Tuesday, Development Secretary Michael Wong it would cost HK$624 billion to build artificial islands around Kau Yi Chau, as well as to pay for further reclamation projects in Sunny Bay and Lung Kwu Tan, and to develop coastal areas of Tuen Mun.
He said despite the extremely high cost, the project will be worthwhile because it will greatly improve people's lives.
Officials say the 1,000 hectares of reclaimed land around Kau Yi Chau will be able to house up to 260,000 flats.
How Core Modernisation Is Paving The Way For Invisible Banking
In an era dominated by digital innovation, the banking sector is evolving rapidly to meet the modern consumer’s deman... Read more
ZA Bank Financial Performance Shows Strong Growth, Reduced Losses Last Year
ZA Bank, a virtual bank in Hong Kong, has reported a substantial increase in its financial performance for the past yea... Read more
Elon Musk Impersonated In Suspected Quantum AI Crypto Fraud
The Securities and Futures Commission (SFC) has issued a public warning about suspected fraud involving the entity know... Read more
Why Hong Kong Is Primed For A Crypto ETF Breakthrough
In the dynamic landscape of global finance, Hong Kong has emerged as a frontrunner in innovative exchange-traded funds ... Read more
MixCare Health And Pacific Prime Collaborate On Digital Health Platform
MixCare Health, a Hong Kong-based digital health and wellness platform, has partnered with Pacific Prime, an internatio... Read more
Mox Bank Revenue Triples In 2023 Driven By New Services And Customer Growth
Mox Bank announced that it has tripled its revenue in 2023, driven by an increase in its customer base, deposits, and l... Read more