Even though skyscrapers line the Hong Kong skyline, housing still remains a major concern for Carrie Lam, HK Leader. Her ‘Lantau Tomorrow Vision’ proposal lays out a vision for the next two decades to build housing on artificial islands and create jobs thousands of jobs in the process.
About 1.1 million people will able to get housing on an area of 17,000 ha with about 400,000 residential units. The area will cover Kau Yi Chau, Hei Ling Chau in central waters and coastal parts of Tuen Mun. These reclamation and construction projects might create more than 340,000 jobs over the next three decades.
Hong Kong faces a major space crunch, Lam said, adding that land is crucial for “improvement of livelihood and development of the economy and transport infrastructure.”
After Central and Kowloon East, the new artificial islands are set to be the next core business district. Redevelopment studies in New Territories will be placed on the fast-track so that more land becomes available for housing. At the same time, those who are still on the waiting list to get public housing will be placed in industrial buildings--till the time that new housing is built for them.
Reclamation work is set to begin in 2025 and people will be able to access the first set of flats by 2032. Lam’s proposal, if implemented, is estimated to cost HK$1 trillion while generating jobs in the construction and engineering fields.
With a heavy focus on the public sector, 70 percent of the units created on the new islands will be dedicated to public housing.