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Some have said that reclamations in Victoria Harbour could have an adverse effect on its scenic value. I want to point out that the role of the harbour as a visual amenity, especially the central part, is being carefully respected. A basic principle of our planning is to "bring the harbour to the city and the city to the harbour" by means of 33 km of interconnected waterfront promenade and civic spaces. Of the 1,100 hectares of new land, 28% will be for open space or amenities.
Another 30%, about 330 hectares, will be used for major new roads. There is a call to put all major roads on the newly reclaimed land underground for better environmental protection and to allow more land for development. The ultimate design of transport links on reclamations is the outcome of a balanced view being taken on inter-related matters concerning design standards, environmental protection, limitations of space, land development economics, aesthetics, programming, etc. It is such considerations that have led to the proposed Central-Wanchai by-pass being designed as an underground highway project.
As regards harbour reclamations and land supply, I must say it is both misleading and simply unrealistic to suggest we will release the reclaimed land onto the market all at once. Our plans have a 10-15 year horizon. New land designated for residential or commercial purposes will be produced gradually over a period of years and form a "land bank" to ensure there is a steady and continuous supply to meet demand. There is therefore no question of flooding the market with land. But the production of land and the related infrastructure requires a long lead time and we need to keep the momentum going.
We are of course aware of concerns expressed in the community about the effect of our plans and programmes. This has led us to recognise the need to step up our efforts to make sure that the public is more fully briefed on what we are planning and doing. We believe that given more information, the community will understand and support the need for the new reclamations.
Similarly, we will continue to try to ensure that our Chinese colleagues are aware of the rationale for all our current and committed projects. We have also informed them that we would be happy to arrange a briefing for them.