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Racecourse and Hong Kong Stadium will build underground city,ten lands in Wan Chai district were selected and will start the pilot study as fastest in the end of this year

Squarefoot Editor  2014-02-06  17 #Property Hit News
Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) Due to the fact that dense urban development in Hong Kong,so there are limited space for development,the Chief Executive have proposed the development of underground space in the policy address last month.The latest government documents disclosed that the Government has identified 10 lands which located in Admiralty / Wan Chai,Causeway Bay, Happy Valley for Land Development "underground city " respectively,including multiple locations in Victoria Park,Hong Kong Stadium,Southorn Playground and Horse Racecourse etc.,some district councillor pointed out that the development of underground space may help to shunt the crowd,but only to do is the transportation and infrastructure support,and hoping that the Government will explain the specific use of underground space as soon as possible.The Government will expand a pilot study for the underground space development,the locations include Admiralty / Wan Chai,Causeway Bay,Happy Valley and Tsim Sha Tsui West.Planning and Civil Engineering and Development Department document revealed that the government has identified 10 lands which located in the Wan Chai area can be developed as underground space,also will consult the District Councils,of which the most spectacular locations,including the ​​Victoria Park which involved in the largest area and Happy Valley Racecourse,Wan Chai Sports Ground,Southorn Playground,Hong Kong Stadium,etc., most of the lands are belongs to the government.Vacated the lands on ground can be improved the environment,the document states pointed out that the traditional business district development has been quite dense,there are limited land available for new development,while also need to face the traffic congestion,lack of public space and roadside facilities and other issues,the development of urban underground space can be optimized connections within and improving the local environment,also the underground space can accommodate new facilities or relocation of some of the existing ground facilities,freeing the land surface can be used for other purposes.In fact,10 lands in Wan Chai district which have chosen by this study,many of them are sprawling park or open space which located in along with the existing or future MTR,even if some of the locations have distance with the railway station,the document is also proposed to build pedestrian tunnel connecting in order to improve the transport infrastructure and connectivity.Some district councillors suggested to study Infrastructure shunt first,the government said if the whole pilot study approved by the Legislative Council Finance Committee funding,the goal is hoping that to start before the end of 2014,it is expected to be completed in the early of 2017.The industry is expected,together with the project,it is believed that these areas will see the development of a prototype of underground space after 2020.Hennessy District Councillor Chen Chen Kay said although developing the underground space will increase the flow of the load on the surface,but if the transportation and other facilities have done well,they can resolve the overcrowding problem which existing in the commercial core area of ​​Causeway Bay,and have a diversion effect.He also pointed out that there are different uses of underground space,such as parking lots,shopping malls,stadiums , etc.,as for transport and infrastructure capacity and others have different requirements,the Government is now only a preliminary strategic studies,so it's hoping that the Government can explain the use of underground space as soon as possible,so that the public has the direction for discussion.Midland Realty said the constructions isn't complexity,director of Midland Realty Lo Chin Ho said that the development of underground space is quite common in the foreign countries and also has reached a mature stage,such as "Path" in Toronto,Canada,underground shopping arcade in Osaka,Japan and underground street in Taipei, Taiwan,it is expected that the feasibility is also quite large in Hong Konh.In addition,in recent years,there are a number of large international chains to seize the local market,so it cause the vacancy rate of CBD shops fell to a new low record,Mr.Lo think that the complexity of the construction of the underground mall wasn't large,comprehensive the experiences around the world,dining and living department stores and other retailers will be the main tenants for the underground mall.He also pointed out that this kind of underground mall also strengthened the connection between the region and the region with a view to produce a synergistic effect,coupled with the underground and traffic network,it is expected that it can deliver new attraction for visitors and tourists to enhance Hong Kong's attractiveness.Meanwhile,the completion of the underground mall area will become a favorable business diversification,the ability of customers to different consumer is attracted to the relevant area,a direct increase in people flow; the ground floor will be increased the valuation due to the appreciation of the flow of people,the price index of commercial shops is expected to rise steadily.
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