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.
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