The Pulse Today
BREAKING
Sajib Pledges Aid for 50,000 Flood-Affected People in SonargaonMP Azharul Islam Mannan Distributes Relief Funds to Needy Families in SonargaonParliament Proposes Anti-Gambling Bill with Maximum 7-Year Prison PenaltyOpenAI Unveils 'Schedule' Feature to Boost Task Management in AI ChatbotPrime Minister Tareq Rahman Arrives in Dalian, China for Economic ForumEurope Confronts Intense Heatwave; Conditions Predicted to DeteriorateGold Prices Rise Again in Bangladesh Amid Global Market IncreaseSpaceX's Nasdaq Debut Values Company at Over $2 Trillion, Surpassing AmazonStudy Reveals AI Data Centers Contribute to Local Temperature IncreasesNarayanganj BNP Youth Wing Holds Rally to Welcome New Central CommitteeHong Kong Plans to Demolish Homes for $28 Billion High-Tech DevelopmentNepal Tunnel Survivor: Sanjay Sah's 10-Day Ordeal in Darkness and Journey to 'Second Life'Laos Experiences Power Cuts Amid Rising Electricity ExportsSouth Africa Secures 3-1 Series Victory Over New Zealand in Exciting Baltimore FinaleLeading Russian Charity Director Threatened with Imprisonment for Pro-Peace AdvocacyKaikobad: Bangladesh's Power and Gas Sectors Devastated Over Past 18 YearsChilean Authorities Arrest 284 During Protests Against Pinochet's DictatorshipBangladesh's Education Overhaul: Integrating AI and Robotics into TextbooksDMP Vows to Ensure Safe, Peaceful Dhaka with Community PolicingBangladesh's Plan to Become a Regional Aviation Hub Gains MomentumNationwide T20 Cricket Tournament to Honor Arafat Rahman KokoSoft Skills Training Launched for Marginalized Professionals in PabaNationwide T20 Cricket Tournament Launched in Memory of Arafat Rahman KokoThree Bodies Found, One Still Missing Following Narsingdi River IncidentDhaka Police Detain 151 Individuals in Separate Operations

Hong Kong Plans to Demolish Homes for $28 Billion High-Tech Development

Hong Kong is set to demolish homes and natural areas to build a vast tech hub aimed at economic integration with mainland China.

By Staff Correspondent
Share
Hong Kong homes flattened for US$28 bn high-tech hub | International
BSS

Hong Kong is preparing to flatten homes and natural areas to make way for the Northern Metropolis, a $28 billion high-tech hub designed to integrate the city more closely with mainland China. This ambitious project, spanning roughly a third of Hong Kong, aims to accommodate 2.5 million residents and create 650,000 jobs. However, it comes at a significant cost to local communities, wildlife, and public finances.

Chan Yuk-tong, a 71-year-old resident, is among those affected. His village home, where he was born and raised, will be bulldozed. "I can't bear to leave... If not for the government developing this area, I would likely spend the rest of my life here. After all, I belong here," Chan told AFP as he packed his belongings.

The Northern Metropolis project, announced five years ago, will cover 30,000 hectares and is expected to link Hong Kong more closely with Macau and nine mainland Chinese cities in the Greater Bay Area. The government aims for it to become a "new economic engine," but environmental and social groups warn of the destructive impact on well-preserved areas.

Brian Wong of Liber Research Community, an NGO focused on land issues, criticized the project's scale. "If you build a new city in a place that was well preserved before, it would inevitably be very destructive, no matter how you mitigate it," he said. "Do we need to build it so big? Is it too ambitious?"

The project, estimated to cost at least HK$224 billion ($28.6 billion), aims to return on investment by contributing 13 percent to Hong Kong's GDP over a 20-year timeline. Despite concerns about Hong Kong's relevance in China's tech ambitions, the city offers international connections, university research, and deep capital markets that mainland powerhouses like Shenzhen cannot.

Last month, the first large-scale land sale in the Northern Metropolis was awarded to a consortium including Chinese state-owned enterprises and JD.com. Hannah Jeong of CBRE noted that policy support will attract mainland companies to build research centers, leveraging lower taxes and talent, data, and capital flows. Wilson Chan of the Pagoda Institute highlighted the challenge of maintaining efficient cross-border flow while preserving international confidence in Hong Kong's uniqueness.

Local residents like Niki So, who received a public housing flat in compensation, express mixed feelings. "I hope the development here will go well, that it will thrive," So said. "If it doesn't turn out as expected then I think the sacrifice of this village would be quite unfortunate."

Source: BSS

Topics

Comments

Related stories

More in World

See all →

Latest stories