CONFIDENTIAL
XCX(92)1
BACKGROUND AND ARGUMENT
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When fully formed, the Airport Island will have an area of approximately 1,248 ha. According to the Airport Master Plan, which will be approved by the end of December, the land uses proposed for the Airport Island can be broken down into three broad categories -
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(a)
Airport operation - the airfield (runways, aircraft parking aprons, taxiways, etc.) and the passenger terminal building and concourses (about 1,040 ha); (b) Airport support facilities
(c)
-
air cargo, aircraft maintenance and engineering, aircraft catering, aircraft fuelling, etc; all of which are essential to support airport operations but are to be privatised (about 109 ha); and
Airport-related uses - air freight forwarders, hotels, offices and general retail/commercial (99 ha).
The "Study on Airport Related Activities" (SARA), commissioned by the Provisional Airport Authority (PAA) and steered by a Group involving wide Government representation, has made recommendations on the uses to which the "airport-related” land could most suitably be put. The PAA's Business Plan and the financing plan being developed by Government's consultants, Wardley Capital Ltd., include a significant revenue stream from the sale of sites for these uses in the early years of the project life during which cashflows are at their most critical. The recommendations for land use and the Gross Floor Areas (GFA's) for each use derived in SARA
are
Freight Forwarders
Hotels
Offices
Retail/Commercial
1,475,000m2
250,000m2
689,000m2
295,000m2
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It is difficult to predict with any certainty the areas and rate of take-up for these uses until the Authority's business plan and its real estate strategy have been further refined. The areas assumed for land grant purposes should cater for all foreseen demand up to and beyond 2011. The grant will specify permitted uses and the relevant permitted
Executive Council
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