HONG KONG (BLOOMBERG) - Hong Kong's government plans to spend HK$624 billion (S$107 billion), equivalent to half its fiscal reserves, to reclaim land for artificial islands that'll help ease its housing crunch.. Read more at straitstimes.com.
HONG KONG - Hong Kong's government plans to spend HK$624 billion , equivalent to half its fiscal reserves, to reclaim land for artificial islands that'll help ease its housing crunch.
More than a third, or HK$256 billion, will go toward building artificial islands spanning 1,000ha off Lantau Island. Surrounded by water on three sides and mainland China on the other, Hong Kong faces a severe shortage of land supply that has pushed property prices to among the least affordable in the world.
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