Latest news with #WaiChi-sing
HKFP
19-05-2025
- Business
- HKFP
Hong Kong seeks to turn To Kwa Wan waterfront into tourism hotspot channelling Sydney's Darling Harbour
Hong Kong's urban redevelopment body is looking into redeveloping a Victoria Harbour waterfront area in eastern Kowloon into a tourism cove with restaurants and outdoor music venues. In a blog post on Sunday, the Urban Renewal Authority (URA) managing director, Wai Chi-sing, said that the authority had begun a study on the possibility of developing To Kwa Wan into a world-class harbourfront development, which he dubbed the 'Victoria Cove Area.' Wai said the development would be similar to Sydney's Darling Harbour, formerly an industrial harbour that was redeveloped in the 1980s. It would also draw inspiration from the Aker Brygge promenade in Oslo, a former shipyard, he added. The official said that the URA's study, which began in March, covered an 800-hectare area of land and water, including parts of To Kwa Wan, Kowloon Bay, and Kai Tak – the site of a flagship sports park and proposed major commercial, tourism, and residential developments. The study suggested that some idle barges on the To Kwa Wan waterfront could be converted into restaurants, concert stages, swimming pools, or floating beaches, while two breakwaters in the area could host art installations. The neighbouring waters off the Kai Tak Sports Park, with their calm currents, would be suitable for water sports such as rowing or canoeing, or for floating platforms that could be used as performance stages. The sports park is touted by the government as a state-of-the-art venue for large-scale events in a bid to boost tourism amid the city's slow recovery from the Covid-19 pandemic. It hosted the Hong Kong Sevens rugby tournament in March and sold-out concerts by British band Coldplay last month. Wai added that proposals for the waterfront development would have to comply with regulatory and licensing regimes, and would require technical impact assessments and consultations with stakeholders such as the government and barge operators. Watersports should not interfere with shipping routes, and restaurants must have the appropriate licenses, he said. A consultant has begun discussions with various government departments and is expected to submit a preliminary report and feasibility study to the URA in the second half of the year. Meanwhile, recent legislative amendments loosening rules for creating new land through reclamation could make the development process easier, Wai said. On May 7, the Legislative Council passed a law making it easier for the government to create new land through reclamation in Victoria Harbour – despite objections from environmental activists. The Development Bureau said it would allow fast-tracking smaller reclamation works measuring 0.8 hectares or less and would 'enhance harbourfront areas for public enjoyment.'
South China Morning Post
26-01-2025
- Business
- South China Morning Post
Hong Kong's cash-strapped Urban Renewal Authority to adjust pace of projects
Hong Kong's cash-strapped Urban Renewal Authority intends to adjust the pace of its projects to ensure better financial stability, while private developers will be briefed in advance on plans to avoid failed tenders. The changes, outlined by managing director Wai Chi-sing on Sunday, were aimed at helping the authority maintain adequate cash flow and avoid making expensive acquisitions. 'The current economic environment and property market conditions have brought many challenges to the financial soundness of the authority,' Wai wrote in a blog post on the authority's website. He said the authority had already delayed the tenders for some projects as it doubted developers would make bids given market conditions. 'This will inevitably affect the authority's cash flow situation,' Wai wrote. Nevertheless, the authority would have to pay about HK$30 billion (US$3.85 billion) for acquisitions in the next few years for five government-approved developments, including the Nga Tsin Wai Road-Carpenter Road project in Kowloon City, according to the managing director.
