Sustainability, government investment and high-density growth formulas have all allowed Hong Kong to expand, despite limited land and resources.
Carrie Lam is secretary for development of the Hong Kong special administrative region government, and MIPIM’s latest Property Influencer.
One of Lam’s portfolios involves working to revitalise the Kowloon East district, creating millions of square metres of new office space in a fast-growing city.
Hong Kong currently boasts the most expensive office space in the world, at approximately $213.70 per sq ft. Despite an anticipated fall in commercial rental costs worldwide, Colliers forecast that Hong Kong would retain the distinction of having the world’s most expensive offices.
All of that could change with the Kowloon East project, which incorporates development works and initiatives at the vacant Kai Tak Airport and industrial areas in adjacent Kwun Tong and Kowloon Bay.
In this exclusive video interview, Lam shares some details about the proposed Kowloon development, as well as formulas for how to make high-density growth work in a city like Hong Kong.
According to her, it’s crucial to include principles of sustainability, and to look outside the box—for example, Hong Kong could be ripe for developing office space in caves and underground.[youtube]OAPmeDxsXSM[/youtube]
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