A Sun Hung Kai Properties-led consortium could spend about HK$30 million to build and run an ecology reserve at San Tin as part of its 'border city' residential development in Lok Ma Chau.
The massive project was approved in principle last week by the Town Planning Board after scaling down for a third time to 3.38 million square feet at a plot ratio of 0.19 times - 40 per cent of the original proposal.
Covering a site of 162 hectares on the western side of the Lok Ma Chau control point, the development is in an environmentally sensitive area because the fish ponds there are zoned as a Wetland Conservation Area for protection.
The consortium intended to build 37 residential buildings with 4,536 units, using 5 per cent of the total site area.
A wetland trust fund will be established to finance the management of fish ponds in the area as a condition for the project.
An official at the planning board said residential developments would be allowed in the area if such development could assist in protection of wetlands. The board accepted the proposal could achieve this target.
Previously, the consortium had submitted proposals to build 4.7 million sq ft on the site, while earlier proposals involved building 5.37 million sq ft and 8.45 million sq ft. Those schemes were either rejected or withdrawn by the developers.
