COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Gov't approves land exchange for harbourfront dev't project

The harbourfront project will replace the original plan to construct a 25-storey industrial building.

The Chief Executive in Council has approved an in-situ land exchange application intended for a harbourfront leisure development at the Quarry Bay, the Development Bureau (DEVB) reported.

The application sought to replace the original plan of the lot owner to develop a 25-storey high industrial building.

“Subject to payment of full market premium, the lot owner may, in accordance with the approval given by the Town Planning Board (TPB), pursue a harbourfront leisure, tourism and commercial development at the re-grant lot," a DEVB spokesperson said.

The initial plan for a 25-storey industrial building that started in 2017 sparked public calls to replace the high-rise building development with a new plan that is more compatible with the harbourfront setting. The total area of the lot is about 2,477 sqm. It was zoned for “Industrial” uses until 2003 when it was rezoned for “Open Space” or “Other Specific Uses”.

"The land exchange proposal would safeguard public interest from various aspects - (i) successfully replacing an IB development which is highly incompatible with the harbourfront setting; (ii) early development of the underutilised "OU(1)" site in accordance with the planning intent to bring diversity and vibrancy to the harbourfront,” the spokesperson said.

It will also create a continuous promenade connecting future Boardwalk underneath the Island Eastern Corridor among others.

The lot owner will also be required to create 6,300 sqm. of public open space outside the re-grant lot and covered footbridge connecting the waterfront with the hinterland of Quarry Bay. This is in accordance to the development proposal, approved by the Chief Executive in Council.

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