Think tank calls for land supply to double

Local think tank, Our Hong Kong Foundation (OHKF) estimates that the land supply currently planned by the government is only half of what’s needed to satisfy housing demand over the next 30 years.

The Foundation released a report today titled Building a Global City of the Future— Envisioning Sustainable Urbanisation of the New Territories.

Speaking at a press conference organised by the Foundation, Richard Wong, a professor in Political Economy at the University of Hong Kong, said Hong Kong is bogged down by the “triple lows”, that is spade-ready land supply, housing completions, and quality of living reflected by the shrinking average size of new housing units.

“If no resolute action is taken promptly, the society will continue to bear the poor living environment with great despair,” Prof Wong warned

According to the report, it is estimated that at least 9000 hectares of land will be needed in the next 30 years. However, taking into account the Lantau Tomorrow Vision , and the two ongoing New Development Areas (NDAs), namely Hung Shui Kiu and Kwu Tung North / Fanling North , the land supply of 5080 hectares currently planned by the government is only half of what’s needed. Apart from reclamation, the report suggests that large-scale development in the New Territories is the only way to create more land.

Mr Ryan Ip, the Head of Land and Housing Research of OHKF, considered the New Territories to have huge development potential.

“For example, the New Territories can provide development space for industries that cannot afford the soaring rent in the core business district, making Hong Kong's economy more diversified. Moreover, with its superior position adjacent to the Greater Bay Area, Hong Kong can further strengthen its advantages in connecting the mainland and the world market, ” Mr Ip said.

The OHKF has suggested nine Potential Development Areas (PDAs) for further study, including HSK Extension, Yuen Long South-east, Northern Link (NOL) Corridor, Kwu Tung North Extension, Kwu Tung South & Fanling South, NTN Extension, Lam Tsuen, Kam Tin North, and Kam Tin South Extension. All of them are extended from existing new towns and planned NDAs The report proposed that a 3000 hectares development zone can be formed through the integration of scattered land resources in the New Territories.

According to the OHKF, the development areas should be categorised into three themes: Culture & Technology Corridor, Modern Logistics & Business Circle and Living & Recreation Space to complement the planning intentions of the ongoing projects implemented by the Government. The goal, they said, is to allow Hong Kong to transcend its many constraints and transform it into a liveable world-class city.