Hidden clique bent on making toxic border tract our next hi-tech flop
'Hong Kong and Shenzhen information technology professionals have proposed that the Lok Ma Chau Loop - a former security zone coveted for development - become a Silicon Valley-style special permit zone.'
SCMP, October 17
'Further assessment of the feasibility of the LMC Loop also needs to address the decontamination cost which should be included as part of the development cost. Decontamination of the site is expected to be grossly expensive and may render development of the site financially not viable.'
Working paper No32, Strategy 2030 study
INFORMATION TECHNOLOGY professionals, my a***. The undeclared owners of the Lok Ma Chau Loop keep trying a different line to cash in on it, technology this time, a 'trade expo' last time, but they always ignore that it is utterly unsuitable for development. The loop is a 96-hectare wasteland site that was created by a straightening of the Shenzhen River. It was previously part of Shenzhen but was transferred to Hong Kong jurisdiction after the straightening.
The Shenzhen municipal government reportedly assigned it to a company called Shum Yip Holdings in 1997.
