Hong Kong elevated transit project winners to get property development rights
Plan could unleash development potential of project sites, achieve synergy of transit systems and property development, authorities say
Successful bidders for four elevated mass transit projects in Hong Kong, including proposed infrastructure in Kai Tak, will be granted property development rights in the surrounding areas to help provide long-term funding support.
The Executive Council, the city’s key decision-making body, on Friday approved the granting of property development rights at nominal premiums for three sites in Kai Tak related to one of the projects through a coming open tender.
The project will be awarded next year and is expected to be completed in 2031.
A government spokesman said a similar approach would also be adopted for other smart mass transit projects in East Kowloon, Hung Shui Kiu/Ha Tsuen and Yuen Long South new development areas. A tender would be made next year, he added.
“With a strong determination to break new ground, we have been working resolutely to introduce [the system] into Hong Kong through a ‘dual innovation’ thinking on policy and technology,” the spokesman said.
The government has proposed building a 3.5km (2.2-mile) elevated smart mass transit system in Kai Tak, the site of the city’s former airport. It is expected to span six stations and have a 10-minute journey time.