Artificial islands under the Lantau Tomorrow Vision project will provide at least 45,000 private flats, Secretary for Development Michael Wong said.
Speaking to the media after attending a radio show today, Mr Wong said the Kau Yi Chau Artificial Islands will be able to provide 150,000 to 260,000 flats, of which 30% will be private housing.
“On the calculation of land revenue, if you use the lower bound, it is basically around 45,000 private residential units.
“Basically we use that as a basis for speculating upon the revenue from land sale in the future. So in doing that calculation, we’ve already factored in the fact that 70% of the residential units on (the artificial islands near) Kau Yi Chau will be public housing.”
The estimated land sale revenue calculated at the lower bound will be about $700 billion to more than $800 billion, Mr Wong added.