Policy Address

Commercial and Economic Land Uses

86.       The demand of economic activities for office, retailing, hotel, trading and logistics spaces is huge.  The Government will continue to do so through measures such as converting suitable GIC sites in core business districts into commercial use.  The two multi-storey carparks at Murray Road in Central and Rumsey Street in Sheung Wan are estimated to be able to provide some 76 000 square metres of floor area.  Likewise, the former Mong Kok Market site will be converted for commercial use, providing about 6 400 square metres of commercial floor area.  The Government will also convert the use of the government site at Caroline Hill Road as soon as possible to release more commercial floor area.

87.       Kowloon East, as an alternative core business district for Hong Kong, has the potential to supply an additional commercial/office floor area of about 5 million square metres.  The Government is considering relocating or rationalising the existing government facilities in the two action areas of Kowloon East.  Starting from 2014-15, some suitable sites within the action areas will be made available to the market.  The Government will also comprehensively develop the concept of a "walkable" Kowloon East in the Kowloon Bay and Kwun Tong Business Areas to improve the pedestrian environment and address traffic issues.  We will study arrangements to facilitate the construction of elevated walkways by private property owners and examine the feasibility of facelifting back alleys and linking them to the pedestrian network.  In addition, the Government will continue to take forward the Kai Tak Fantasy project and commence studies on its planning, engineering and mode of implementation to take forward the project in phases, with a view to developing a world-class tourism, entertainment and leisure attraction.

88.       With its proximity to Hong Kong Island, the proposed East Lantau Metropolis in the eastern waters off Lantau can be linked with Hong Kong Island, Lantau and the New Territories West by transport infrastructure.  The metropolis will accommodate new population and serve as a new core business district in addition to Central and Kowloon East.  We will seek to start the preliminary study of the metropolis as soon as possible.

89.       As at end-December 2014, the Lands Department approved 105 applications for lease modification and special waiver through the revitalisation measures for industrial buildings.  It is anticipated that about 1.24 million square metres of converted or new floor area will be available for commercial or other uses.

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