Hong Kong Panel Suggests Converting Golf Course to Address Land Shortage

(Bloomberg) -- Using part of Hong Kong’s iconic golf course and developing deserted rural land for housing are among a government-appointed panel’s suggestions to address land shortage in the world’s least affordable property market..The task force also proposed developing private agricultural land, recreational sites, caverns and underground space, as well as reclaiming land from the sea to provide more plots for home. It submitted its final report on Monday..Hong Kong has long been plagued by land shortages and Chief Executive Carrie Lam pledged that land supply is always “a very important topic” to her government..“Land shortage has undoubtedly crippled Hong Kong for a long time. Society can hardly move forward if the problem is not solved promptly,” said Stanley Wong Yuen Fai, chairman of the task force in a media briefing. “We hope the government would consider our recommendations in detail.”.In October, Lam pitched a plan to reclaim 1,700 hectare (4,201 acres) of land and build artificial islands off the Lantau Island. The proposal, which has a reported price tag of HK$500 billion ($63.8 billion), has led to heated debates in the city on whether it’s worthwhile at all..While the task force acknowledged Lam’s plan, which was proposed during the five-month public consultation, it suggested a similar reclamation plan of only 1,000 hectare..The options submitted by the task force are for the government to consider and the administration isn’t obliged to implement the suggestions..To contact the reporter on this story: Shawna Kwan in Hong Kong at wkwan35@bloomberg.net.To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Fion Li, Jeanette Rodrigues.©2019 Bloomberg L.P.

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Hong Kong Panel Suggests Converting Golf Course to Address Land Shortage

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