The Government is preparing guidelines for major new projects as well as extensive redevelopments which will transform the Kowloon Tong area into a luxury residential and commercial district.
Factors which will reshape the district include proposals for major commercial and residential developments along the Kowloon and Canton Railway Corporation's (KCRC) track.
Along with this will be the redevelopment of extensive British military sites and the St George School site in the heart of the district, and the change in the area's nature with the phasing out of Kai Tak airport and its noisy flight-paths.
Faced with the increasing demand for quality land, and along with its metro plan to create new commercial centres in decentralised areas, the Government is studying proposals to turn Kowloon Tong - currently a low-density residential area in the centre of Kowloon peninsula - into a new-look district comprising both luxury residential and commercial elements.
The Government has conducted studies to identify potential development sites in the area and ways to enhance their investment value through rezoning.
Crown lands along the KCRC's railway network are the focus of the studies.
Their release will not only provide investors with valuable development opportunities, but will also give the Government a bonanza worth billions of dollars from sale of prime Crown land.
