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The Development Bureau is seeking a funding of HK$32.5 billion from the Finance Committee of the Legislative Council to support the development of the Kwu Tung North/Fanling North New Development Area.
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According to the document tabled at LegCo's development panel, about 40 percent of the funding will go to road works - including the construction of the western section of Fanling Bypass and flyover along Po Shek Wu Road to Fanling Highway.
Around 15 percent of the funding will be allocated for site clearance and formation, which will be used to form 247 hectares of land and amounts to 77 percent of the total development area of the project, and will be used for subsequent developments such as housing, commercial uses, public and community facilities, open space, transport and other infrastructure.
The Bureau said the Civil Engineering and Development Department (CEDD) will commence site formation and engineering infrastructure works for the project progressively from mid-2024 upon the funding approval.
"Although the development area of the remaining phase (247-hectare) is much larger than the first phase (73-hectare), CEDD has made endeavors to compress the construction time so that the remaining phase can be completed in about 7.5 years, similar to the first phase."
The Kwu Tung North/Fanling North development project is the first New Development Area in the Northern Metropolis to enter the construction stage.
It has been planned as a predominantly residential community that will also house a number of government offices relocated from urban areas.
Population intake is targeted to start in 2029, with a view to completing the site formation and engineering infrastructure works for the project by 2031.
