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Hong Kong will proceed with technical studies on the Lantau Tomorrow Vision project but will currently concentrate its efforts on the Northern Metropolis development, the city’s finance chief said.
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During a Legislative Council panel meeting today, real estate and construction sector lawmaker Louis Loong Hon-biu raised concerns that the Lantau reclamation project could create expectations of oversupply in the property market.
He asked Financial Secretary Paul Chan Mau-po whether the administration would formally suspend the project, which authorities had said would be postponed due to financial constraints.
In response, Chan emphasized that while research on the reclamation initiative will continue, the immediate priority is ensuring the success of the Northern Metropolis.
He noted that the Development Bureau had already initiated various studies on the Lantau Tomorrow Vision and that technical research would proceed to prepare for potential challenges, including hydrological considerations, should the project move forward.
The financial secretary assured that land creation efforts would not halt due to short-term market fluctuations but acknowledged the need for flexibility in pacing development.
He added that newly created land could be reserved and released according to market demand.
Regarding land supply, Chan stressed the importance of a comprehensive approach, considering not only government land sales but also residential projects along railway lines, private developer contributions, and urban renewal initiatives.
First introduced in 2018, Lantau Tomorrow Vision proposes creating three artificial islands in waters off Kau Yi Chau totaling over 1,000 hectares of reclaimed land.
(Ayra Wang)
