Walkway overlooking Hong Kong’s Victoria Harbour saved from demolition in land exchange deal
Owner of Quarry Bay site persuaded to scrap unpopular plan for 25-storey factory
A walkway overlooking Hong Kong’s iconic Victoria Harbour has been saved from demolition thanks to a government offer that persuaded the landlord to scrap a controversial plan for a 25-storey factory.
The 10-metre-wide promenade along Hoi Yu Street on the Quarry Bay coast will instead undergo upgrades for leisure and tourism purposes, according to the landlord’s latest plan revealed by the Development Bureau on Thursday.
Local residents and harbourfront authorities hailed the deal as a “win-win”. The landlord, Fine Tower Associates, will surrender two plots it holds at the site totalling 2,477 square metres (0.25 hectares). In return it will receive 8,532 square metres of adjacent government land upon payment of the full market premium.
A building will still be constructed at the waterfront site but will be a lower-rise complex for retail, hotel, leisure and office use. Its gross floor area will be 37,155 square metres – roughly the same as was planned for the factory.
“Taking advantage of the harbourfront setting, the facilities will help turn the area into a leisure and tourism” space, the bureau said.
“Pedestrian access will be provided to enhance the connectivity to and vibrancy of the waterfront.”