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Hong Kong’s West Kowloon arts hub to sell land parcels in ‘a few years’ time, CEO says
- Betty Fung says sales will be made in batches and commence in coming years as land earmarked for residential purposes
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The sale of some of the West Kowloon Cultural District’s land parcels is expected to begin in “a few years” time in two to three batches, the CEO of the Hong Kong arts hub has said, expressing confidence about the initiative’s prospects.
West Kowloon Cultural District Authority CEO Betty Fung Ching Suk-yee said on Thursday it would first need to complete its preparations in the coming two years as the government had approved the sale of parts of the land for residential development.
The government revealed the plan on Wednesday to allow the parcels to be sold to help the arts hub meet its financial obligations over a 10-year period.
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Fung said the hub would need to submit an application to the Town Planning Board, carry out excavation work in the district’s basement and conduct a tender process.
“Therefore, we will need a few years before being able to sell the land for residential development,” she told a radio show.
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Fung added the maximum amount of land they were allowed to sell for residential projects was about 170,000 square metres (1.83 million sq ft), which was 20 per cent of the district’s gross floor area.
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