Kai Tak Runway Commercial Site
The Government has included the site No. 2 in Area 4D at the end of Kai Tak’s runway in the land sales table. It used to be called the “Kai Tak Tourism Hub” site. It is now being sold by the Lands Department. It has been mentioned by the Government. Factors such as creativity will be considered, and it is expected to be sold along the mechanism with higher prices.
I mentioned the creative factors in the past
The site of the Kai Tak Cruise Terminal covers an area of 640,000 square feet and is part of the “Other Designation (Tourism-Related Business, Hotel and Tourism)”. In 2015, the Kowloon East Office was called “Kai Tak”. The purpose of the tourism hub was to invite developers and consortia to submit a letter of intent at the time and obtained 11 letters of intent.
At that time, the Kowloon East Office was proposed to tender in the fourth quarter of 2016 and to adopt a 15-month tendering process, including the process of approving tenders for five months. In the end, the project did not have such a tender. Instead, it was included in the land sale plan after three years. It was changed from the Kowloon East Office to the Lands Department for tender sale.
According to the replies of the Development Bureau, the Kowloon East Office and the Planning Department are preparing an development agenda for the site, including development parameters and requirements, to provide guidance for development. After the completion of the relevant work, the Lands Department will draw up the relevant land sale clauses according to the development agenda and tenderly sell the land under the existing mechanism.
In addition to the changes in the institutions responsible for the granting of land, the Kowloon East Office was revealed at the time that the project would not use the high price method to determine the winning bidding consortium. The review will focus on its creativity and benefits to the community.
According to the latest reply from the Development Bureau, the land will be sold under the “current mechanism”. In other words, there is a great opportunity to use the existing sale of other private residential and commercial land, that is, in the form of the highest price.