Tycoon Stanley Ho Hung-sun has weighed into the debate over the West Kowloon project, saying a multi-developer approach would net the government $150 billion more than a single developer would.
Mr Ho, chairman of the Real Estate Developers Association, yesterday criticised the proposal to award the cultural hub to a single developer.
'I have always opposed the single-developer approach. We think the Treasury would gain much less as a result,' he said.
He believed the government could gain up to $200 billion by opening up the bid, compared with its own estimate of $50 billion to $60 billion.
'As long as the government allows more developers to participate, either through the application list or public auction, it can fetch at least over $100 billion, if not $200 billion.
'If the government can make more money, why not?'