Lantau Reclamation Studies Get Initial Green Light
"); jQuery("#212 h3").html("
"); });
2019-05-25 HKT 15:22
Share this story
Lawmakers on Saturday gave the initial green light for the government to conduct studies into the building of artificial islands off Lantau, but the HK$550 million of funding still need to obtain approval from Legco’s finance committee.
At a meeting of Legco’s public works subcommittee on Saturday, 20 lawmakers supported the funding application and 16 voted against.
The government plans to reclaime 1,000 hectare of land near Kau Yi Chau, which it says will house up to 260,000 flats, but critics say the project – estimated to cost HK$624 billion – will drain public coffers and harm the environment.
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
Do Kwon Faces Possible Trial In Korea After US Conviction
Do Kwon, the crypto tycoon behind the 2022 collapse of TerraUSD and Luna, caused an estimated US$40 billion in investor... Read more
Startale, SBI Holdings To Develop Japans Regulated Yen Stablecoin
Startale Group and SBI Holdings have signed a MoU to jointly develop and launch a fully regulated Japanese yen-denomina... Read more
KakaoBank Expands In Indonesia Through Superbank Partnership
KakaoBank, South Korea’s largest internet-only bank, is accelerating its global expansion through a deepened partners... Read more