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New Central Business District planned

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The government came up with a proposal to develop Lantau into a third generation Central Business District (CBD) and form an East Lantau Metropolis in its 2014 policy address.

And according to Marcos Chan, head of research at CBRE Asia Pacific, the next two decades will see the implementation of high-level infrastructure projects to cope with the new developments.

“The close proximity to the airport, planned extension of Tung Chung and the North Commercial District of the airport, together with the future East Lantau Metropolis between Hong Kong Island and Lantau, will facilitate Lantau’s development into a CBD,” says Marcos.

To complement the existing North Lantau Highway and Tsing Ma Bridge, we can expect new roads and bridges connecting Lantau with Kowloon and Hong Kong Island. “It would also be a strategic move [to have] direct connections with the Qianhai Special Economic Zone in Shenzhen,” Marcos adds.

Lantau is where both business and leisure travellers land in Hong Kong, so it will receive huge people flow from both overseas and the Pearl River Delta upon completion of the Hong Kong-Zhuhai-Macau Bridge in 2017.

Marcos believes the new infrastructure will extend the real estate market, facilitate decentralisation of commercial activity and strengthen business ties with cities in the Pearl River Delta. “Careful planning is needed to strike a good balance between domestic, commercial and recreational land use,” he adds.

Photo courtesy of wikimedia.org.

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