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Hong Kong wants to build massive artificial islands

Christian Fernsby |
The Economist reported that Ms Carrie Lam, Hong Kong’s CEO, last yearnveiled a colossal project, called Lantau Tomorrow Vision.

Article continues below




It involves reclaiming 17 square kilometres of land off the coast of Lantau, Hong Kong’s largest island. That is about five times the area of New York’s Central Park. It is the biggest infrastructure project ever proposed in the city.

Housing on the islands would accommodate up to 1.1 million people, about one-seventh of the current population.

The new flats would be bigger than average and 70% of them would be subsidised.

On May 25th Hong Kong’s quasi-parliament, the Legislative Council, approved the launch of a feasibility study.

Reclamation work is unlikely to start before 2025.

Hong Kong residents have less residential space than the people of any other big city, 15 square metres each.

That is barely double the size of a standard prison cell in Hong Kong.

The Chinese territory is also the world’s most expensive property market.

The average price of a home is USD 1.2 million, around 40% higher than the nearest competitor, Singapore.

To be fair, 45% of Hong Kongers live in government-subsidised housing.

But the average waiting time for such flats is five-and-a-half years.


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