Kai Tak airport to get US$13 billion makeover
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The long-awaited project to transform Hong Kong old, iconic Kai Tak airport is close to being fulfilled, the South China Morning Post has reported. The government is planning to rubber-stamp plans for a HK$103 billion (US$13 billion) revitalisation project on the Kowloon site when the Legislative Council meets on 20 January, according to Bloomberg.
The development, which includes residential developments, offices, a cruise-ship terminal and a 45,000-seater stadium and park, will be completed in three phases by 2021, according to the report. The government is reportedly planning to seek approval for the Kai Tak development from legislators in the second quarter of this year.
Hong Kong SAR’s Chief Executive, Donald Tsang last month pledged to create more than 60,000 new jobs this year by accelerating infrastructure spending. The move comes at a time when Hong Kong is thought to be sliding into recession.
Operating as Hong Kong’s aviation hub from 1954 until 1998, Kai Tak’s infamously difficult approaches over the crowded city made it one of the most famous and iconic airports in the world.
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