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Unit of Li Ka-shing’s Hutchison submits plan to build 15,075 homes in Tsing Yi to add to Hong Kong’s housing supply, help ease shortage

  • Hutchison’s Hongkong United Dockyards Limited (HUD) unit has submitted a proposal to the Town Planning Board to erect 15,075 homes in Tsing Yi
  • The site next to the Tsing Ma Bridge will comprise 10,370 apartments and 4,700 public housing units, HUD says

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A view of Hutchison United Dockyard Limited’s land (left of the bridge) and the government’s idle plot (right of the bridge) in Tsing Yi on 10 Mar 2023. Photo: Martin Chan.
Lam Ka-sing
CK Hutchison Holdings, the flagship company of Hong Kong’s wealthiest man, plans to turn a waterfront dockyard into the city’s second-largest housing enclave, adding much needed supply to the world’s least affordable major urban centre.
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Hutchison’s Hongkong United Dockyards Limited (HUD) unit submitted a proposal to the Town Planning Board to erect 15,075 homes on its site and adjacent government land in Tsing Yi. The site, next to the Tsing Ma Bridge, will comprise 10,370 apartments and 4,700 public housing units, HUD said.

“There is a long-term pressing housing need in Hong Kong and HUD hopes to contribute its part to the resolution of housing problems through this proposal”, said a statement by HUD, whose parent Hutchison is chaired by Victor Li Tzar-kuoi, the elder son of tycoon Li Ka-shing. “Under Hong Kong’s current land scarcity situation, HUD believes large-scale industrial land and idled government land can be part of a solution to alleviate Hong Kong’s housing needs.”

The proposal combines HUD’s plot with a piece of idle land owned by the government under the Tsing Ma bridge, using a road to connect the two parcels into a site measuring 19.9 hectares (49.2 acres) overlooking the Ma Wan Channel. The size of the project is second only to the 21,500 homes at Hong Kong’s largest residential enclave, Lohas Park in Tseung Kwan O, and bigger than Hutchison’s Whampoa Garden in Hung Hom, with 10,285 flats.

The land value is estimated at HK$22 billion (US$2.8 billion) after the payment of land premium and assuming that the developer is not required to bear the cost of building the public homes, according to CHFT Advisory and Appraisal’s senior director Alex Leung.

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Hutchison has not put a price tag on the project, which has not been given a name. The proposal calls for 34 residential towers, each between 27 and 48 storeys, with amenities such as shops, kindergartens, a primary school,, a marina club and social welfare facilities.

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