Louis Loong, lawmaker and Real Estate Developers Association’s secretary general, says government cannot support both megaprojects concurrently
Hong Kong authorities should immediately halt plans to build three artificial islands in waters off Lantau as the scheme may drive down bidding prices for land in the Northern Metropolis megaproject, a representative of the city’s major developers has said.
Louis Loong Hon-biu, a lawmaker and also the secretary general of the Real Estate Developers Association, made the remarks in an interview with the Post, saying the government could not support both megaprojects simultaneously.
Loong said that developers might be conservative when offering bids for land in the Northern Metropolis in this situation. He was referring to the reclamation project to build three artificial islands near Kau Yi Chau, previously known as the Lantau Tomorrow scheme, and the development in the northern New Territories near the border with mainland China.
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