Hong Kong development chief dismisses collusion concerns as authorities plan to extend land exchange scheme to private sector
- ‘I hope society can understand that private participation in land development does not imply collusion,’ Secretary for Development Bernadette Linn says
- Government will still reclaim land and provide compensation if response from private sector is lukewarm, Linn insists
Hong Kong’s development minister has dismissed fears over potential collusion with developers as authorities plan to extend a land exchange arrangement to all new towns in the Northern Metropolis mega project to the private sector.
Secretary for Development Bernadette Linn Hon-ho on Sunday pledged to announce more details on the proposed change, where authorities would allow land owners to keep their plots in the new towns, build developments in line with zoning uses and pay for increased land value through premiums.
But Linn emphasised the government could still reclaim the land and provide compensation if the response from the private sector was lukewarm.
“I hope society can understand that private participation in land development does not imply collusion,” she told a radio programme.
“Things that are being done for development are in line with what society wants, and private developers must pay the land premium. Therefore, I believe that everything is being done under the sunlight.”
She said the government could get a boost from the land premium income and the mechanism would also help speed up development.
The land exchange arrangement in the New Development Area, launched in 2014, is only applicable in Kwu Tung North and Fanling North at present.