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January 19, 2017

$20 billion to build new, and revamp existing, sports and recreation facilities
Delivering his 2017 Policy Address on January 18, Chief Executive CY Leung said $20 billion will be spent in the next five years to launch 26 projects for the new and existing sports and recreation facilities. The projects involve 54 venues, including soccer pitches, swimming pools, bowling greens and tennis courts. Mr Leung said the Government plans to expand the uses of Wan Chai Sports Ground in 2019 at the earliest.
     "Apart from convention and exhibition venues, the development proposal will comprise trendy and novel recreation and sports facilities, as well as other necessary community facilities for the district, with a view to optimising land use," he said.
     The Trade Development Council will conduct a feasibility study on the proposal. The Wan Chai District Council and other stakeholders will also be consulted.
     Mr Leung said $1 billion will be injected into the Elite Athletes Development Fund to boost Hong Kong Sports Institute’s efforts in nurturing elite athletes. The West Kowloon Cultural District will set about developing the Hong Kong Palace Museum to make the district more attractive to locals and visitors from the Mainland and overseas.
 
Highlights of the policy address on: 
 
Innovation and Technology
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Join efforts with the Shenzhen Municipal Government in developing a Hong Kong/Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop in Hong Kong.
- Consider to offer tax concession and financial incentives, and other measures to attract local innovation and technology enterprises, as well as those from the Mainland and overseas.
- Request universities to conduct more research projects with the potential to be applied in practice, and to refine their knowledge and technology transfer plans.
- Invite through the Innovation and Technology Venture Fund eligible venture capital funds as partners to co-invest with the Government in Hong Kong’s technology start-ups.
- Plan to build a Data Technology Hub and an Advanced Manufacturing Centre in the Tseung Kwan O Industrial Estate to promote re-industrialisation.
- Prepare to commission a strategic study on promoting the establishment of a Common Spatial Data Infrastructure.
- Support the construction by the Hong Kong Science and Technology Parks Corporation (HKSTPC) of an InnoCell adjacent to the HKSTPC to provide residential units and shared working spaces for leasing to staff of incubatees and start-ups.
  
Housing and Land Use
- Projected supply is 94 000 units of first-hand residential properties in next three to four years.
- Estimated public housing production is about 94 500 units in the next five years, including about 71 800 public rental housing units and about 22 600 subsidised sale flats.
- Provide over 380 000 residential units, based on land supply in the short and medium terms through changing land uses and increasing development intensity. In the medium and long terms, new development areas and new town extensions can provide over 8.6 million square metres of industrial and commercial floor area and over 220 000 residential units. The first population intake is expected in 6 to 10 years.
- Commence promptly the planning and engineering study on the reclamations at Lung Kwu Tan and in Ma Liu Shui of about 200 and 60 hectares respectively.
- Publish the blueprint for Lantau’s development and conservation in the first half of 2017.
- Set aside $500 million for the first phase of harbourfront development.
- Conduct the “Hong Kong 2030+” planning study and its public engagement exercise.
















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