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▲ This picture shows how the old dockyard area could look when developed. Drawings of the sug- gested new buildings have been superimposed on this recent picture of Central Hong Kong and out- lined in white.
WANTED: BIG INVESTOR WITH CONFIDENCE IN H.K.
THE world's largest city centre redevelopment scheme, involving 13 acres of former Navy dockyard land in Hong Kong's Central District, was announced recently.
The Hong Kong Government has invited tenders from all over the world. It has stipulated that the land be bought outright or in two groups to ensure homogenity of design and rapid construction.
Another stipulation is that at least $200 million be spent on the project not including piling and foundations, but at least double this amount could be needed to provide a good quality structural complex housing supermar- kets, cinemas, multi-storey car parks, hotels, department stores, flats, shops and offices.
THE HONG KONG & FAR EAST BUILDER-VOLUME 19, NUMBER 3
The buyer will be given sole deve- lopment rights in the land which adjoins the present commercial cen- tre on Hong Kong Island.
Work is expected to be completed in 1973 which would normally leave plenty of time to turn the capital into a handsome profit in 99 years
the length of the lease.
However, in reality few investors would care to look past 1999, when the greater part of the Colony reverts back to China's control.
As one Hong Kong newspaper pointed out, outside investment in the development would be a tremen- dous gesture of confidence in the Colony's future.
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