Subsidence Halts Work On Kai Tak Commercial Site
"); jQuery("#212 h3").html("
"); });
2020-09-04 HKT 23:53
Share this story
Work has been halted on a commercial development at the former Kai Tak airport site after the MTR Corporation discovered subsidence on a railway tunnel that runs through the area.
The MTR reported settlement of 20.1 millimetres at two monitoring points on a section of the first phase of the Tuen Ma Line; the trigger for stopping building work is settlement on 20 mm.
The government confirmed the finding on Friday after carrying out further checks.
Inspectors from the Buildings Department and the Electrical and Mechanical Services Department have checked the tunnel and found it to be structurally safe, while the safety of railway operations has not been affected.
However contractors working on the site above the tunnel will have to come up with mitigation measures before work is allowed to resume.
Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses
Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more
Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.
Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more
Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia
Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more
Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules
Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more
Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring
The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more
Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers
Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more