2024-04-25 28Hse Editor
The "Lantau Tomorrow" with a budget of more than 620 billion HKD has aroused controversy. The government's latest decision to withdraw the personnel establishment proposal that is pending approval will make this Friday the first funding project for the Legislative Council's accounting review to be "Tomorrow Lantau’s $550 million preliminary research grant. The study will take about three and a half years. If the plan goes smoothly, reclamation can begin in 2026 at the earliest, the first piece of land will be delivered and the construction of houses will begin in 2029, and the first piece of land can be occupied in 2034.
Apply for a preliminary research grant of 550 million HKD on Friday
The Chief Executive Carrie Lam’s policy address yesterday mentioned that although the Lantau Research Project of Tomorrow was supported by the Public Works Panel of the Legislative Council in May last year, it has not yet been able to obtain funding. For the future of Hong Kong, the current government will not abandon the work of the "Lantau Tomorrow Vision" and will strive to start research as soon as possible. She promised that in the research process, she would continue to listen to the opinions of all parties and actively explore innovative financing solutions.
Lam Cheng stated that the vision of Lantau Tomorrow is the largest and can provide the most land. The current application for funding involves the study of 1,000 hectares of reclamation and related strategic transportation infrastructure in the central waters of artificial islands. This concept has been discussed in the community for nearly 10 years. It shouldn't be protracted.
Start building construction as soon as 2029
She said that as long as everyone is objective and balanced, and is concerned about the long-term interests of Hong Kong, one should understand that the relevant artificial island reclamation in the central waters has many benefits, including the development of new land (rather than just changing the existing land from one use to another. One purpose), increase the housing supply in proportion to 70% of public housing, improve Hong Kong’s overall transportation network and solve traffic congestion in the northwestern New Territories by connecting roads and railways between Hong Kong Island, North Lantau and the coastal area of Tuen Mun, and build a near-zero carbon rowThe environmental problems of opening up livable communities, enhancing the commercial development potential of North Lantau, and absorbing local construction fill materials to avoid shipping overseas for reclamation. From a financial point of view, the project is also feasible and will bring huge economic benefits to Hong Kong.
According to sources, the study will take about 42 months. The consultant will propose which financing method should be adopted for reclamation. The government has not yet finalized the decision. If the plan goes smoothly, it is expected that reclamation will be possible from 2026, housing construction will start from 2029 to 2030 at the earliest, and occupation will be available as early as 2034.
Dai Xing suggested considering public and private development
Zhao Jinquan, director of DTZ Global and CEO of Greater China, responded that the government is welcome to continue to vigorously explore land resources to provide sufficient land reserves to meet long-term housing demand. Tomorrow Lantau still needs to approve preliminary research funding. The bank recommends that after the implementation of the Lantau Project tomorrow, the government considers development through a public-private model to speed up planning and housing construction.
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