Page 9 - Land2.5_EN_Final_C

Overview of Our Recommendations

5. Two recommendations by OHKF on “Hong Kong 2030+” are set out below:

A. Launch large-scale reclamation projects - B. Release the land reserves of private land
The development of Hong Kong have long owners - In the face of an acute shortage
been inseparable from reclamation. It is of land in the short run, OHKF recom-
not only the cornerstone of new town mends that the government consider
development, but also an important collaborating with private land owners to
source of land for public and private utilise their existing land reserve, in the
housing. To ensure the stability and form of public-private partnerships. This
sustainability of long- term land supply, could be an e ective way to increase
OHKF suggests that the government housing supply to meet the urgent needs.
should restart large-scale reclamation
projects and proposes a number of
reclamation sites so we can create our
"New Rose Garden".

This submission is intended to summarise our recommendations. For more information and data analysis of the proposal, please refer
to the second part of this document “From Large-Scale Reclamation to an Ideal Home”.

Recommendation I:

Promote large-scale reclamation projects

6. According to the "Consolidated Land Requirement and Supply Analysis" ("Analysis
Report") of “Hong Kong 2030+”, Hong Kong needs about 1 million residential units for the
next 30 years. In particular, only about 300,000 units are expected to be redeveloped in
the next three decades. We believe this represents a sharp underestimation of future
reconstruction needs. According to the redevelopment plan announced by the Housing
Authority and the Hong Kong Housing Society, the government predicts that only 22,000
public housing units require redevelopment. This is a large underestimation taking into
consideration that nearly 670,000 public housing units will be over 50 years old in 2046.
Taking into account the building ages of all public and private housing and assumed
demolition rates, OHKF predicts that more than 600,000 units will need to be redevel-
oped. All in all, OHKF estimates that the total housing unit demand is about 1.26 million,
260,000 units higher than that in the "Analysis Report".

7. If we hope for a more spacious living environment, so as to make Hong Kong a more
liveable city, not only should we raise the amount of per capita GIC land, but more impor-
tantly the per capita living space. If we increase the per capita living space of newly
constructed units to 270 square feet (sf), similar to the current level of Singapore, average
size of new units will be 730sf. Adopting the average plot ratio in the “Analysis Report”, the
construction of 1.26 million units will require nearly 3,000 hectares of residential land.
Meanwhile, a well-established community needs to satisfy not only housing demand, but
also living needs, such as employment, transportation, open space, shopping, medical care,
etc. OHKF estimates that the demand for future ancillary land is 6,375 hectares. In other
words, Hong Kong will need more than 9,000 hectares of land over the next 30 years,
nearly double that of the government's estimate of 4,800 hectares (of which about 1,700
hectares are for residential use).

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