My TakeHong Kong waterfront sale to go with mainland tide
Largest land sales have been dominated by players from across the border and latest site sell-off right at the heart of the financial district will be no exception
The mother of all prime sites may soon go on sale. The transaction, however it turns out, is likely to be as political as commercial. Expect a big public controversy to be right at the heart of Central.
The government is planning to sell “Site 3” at the Central Waterfront, the 1.5 million sq ft development that extends from Jardine House and City Hall to the Maritime Museum, encompassing the General Post Office and Star Ferry car park. Some analysts estimate the sale will be in the neighbourhood of HK$75 billion!
Urban planners and architects met recently to address the challenges and opportunities in the expected sale.
Environmentalist and district councillor Paul Zimmerman has warned of potential flaws in the tendering process. Rather than just selling the site to the highest bidder, he has advised the government to include an open competition for the best architectural design that meets public needs.
“The official ‘planning brief’ was produced through a bureaucratic process and is bereft of real urban design requirements,” he said. “We need a competitive design process before the site is handed over to a developer,” Zimmerman said.
