Lantau Artificial islands provide up to 260,000 flats

Lantau Artificial islands provide up to 260,000 flats

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.

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