Developers at Kai Tak runway site urge government to improve transport links as sale of new projects looms
- Nine developers who own land on the former runway site last month formed a non-profit company to lobby the government on transport
- Launch prices have been pressured after the government dropped its plan to build a monorail link at the site in 2020
Developers will face challenges in marketing new flats built on the runway site of Hong Kong’s former international airport as the area’s transport links and infrastructure remain limited, two years after the government scrapped a proposed HK$12 billion (US$1.53 billion) monorail link there, analysts say.
Nine developers who own land on the former runway site last month formed a non-profit company, Kai Tak Runway Private Development Company (KTRPD), to liaise with the government on improving the area’s accessibility. New projects are either slated for presale soon or are due for delivery as early as next year, so the matter is pressing.
“Today, the general impression is it’s inconvenient, with lots of people still unfamiliar with the new transport facilities there,” said Ricky Wong, managing director of Wheelock Properties, which is involved in a consortium that will kick off a sale at Miami Quay at the site soon.
The Miami Quay development will be the second residential project to be put on sale at the former runway. One Victoria development was launched in June 2021 and is scheduled for delivery as early as March 2023.
