Hong Kong's rural hinterland could hold key to chronic land crunch
HONG KONG (Jan 11): Hong Kong’s government says it needs to build billions of dollars’ worth of artificial islands to give the city’s glittering skyline room to grow, but critics say developers are hoarding unused land that could solve the problem.
Hong Kong’s leader, Carrie Lam, estimates the 1,111-square-kilometre city needs another 1,200 hectares, or about 12 square kilometers, and has proposed creating new land offshore.
Her plan, which would cost up to $64 billion, could exhaust half of the financial hub’s sizeable financial reserves.
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