Hong Kong needs to build 2,200-hectare artificial island
August 23, 2018 - Lantau Island
A think tank set up by former chief executive Tung Chee-hwa urged the government to double the size of its proposed East Lantau Metropolis (ELM) to provide more homes to the people.
In a study released on Tuesday, Our Hong Kong Foundation suggested that the large-scale reclamation be increased to 2,200 hectares, or roughly half the size of Kowloon, the Hong Kong Economic Journal reports.
The expanded project will be able to accommodate 250,000 to 400,000 flats and house 700,000 to 1.1 million people, the foundation said.
ELM was first proposed by the government in 2014, with the aim of creating an artificial island through reclamations in the waters near Kau Yi Chau and the Hei Ling Chau, which are situated between Hong Kong Island and the main island of Lantau.
Our Hong Kong Foundation estimates that construction work would take about 10 to 11 years and cost several hundreds of billions of Hong Kong dollars, or about HK$1,300 per square foot.
It said such a unit cost wouldn’t be much more expensive than buying back farmland in the New Territories, for which the compensation rates currently stand at HK$390 to HK$1,560 per square foot, depending on the location, RTHK reported.
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