Land-lease policy has not changed, says official
The government had not changed its land-lease policy, despite its recent refusal to renew the lease for the Ocean Terminal in Tsim Sha Tsui, a senior official said yesterday.
Deputy Secretary for Housing, Planning and Lands Thomas Tso Man-tai said: 'Ocean Terminal is a unique case.
'There is only one cruise terminal in Hong Kong. This land lease is a special one.'
The Ocean Terminal decision has raised concerns in the business community and among property developers about what will happen to land leases on their private developments upon expiry. The renewal of land leases has been nothing more than a procedural process in the past.
Mr Tso tried to ease the market's concern yesterday, saying that owners of private developments should not worry about their developments.
He said the land lease of Ocean Terminal was different.
'It is not a pure commercial development. There are public facilities,' Mr Tso said.
But he declined to elaborate, citing an impending court case as a reason.
The Ocean Terminal issue drew the industry's attention after landlord Wharf Estates, a unit of Wharf (Holdings), submitted a High Court application last week for leave to apply for a judicial review of the Lands Department's refusal to extend its lease beyond 2012.
Wharf was granted the lease to build Ocean Terminal in 1968.
The only cruise terminal in Hong Kong, it has accommodated some of the world's most luxurious cruise liners, including the Queen Elizabeth 2.
The rejection of the request for a lease renewal could put into doubt the property developer's plans to erect a Ferris wheel on the Ocean Terminal extension.
If the lease for the Ocean Terminal site is withdrawn, the government could decide to sell the land to a third party.
