Granting Independent Land Leases for West Kowloon Cultural District Residential Plots: A Solution to the Lease Term Deadlock

To alleviate cash flow pressures for the West Kowloon Cultural District Authority (WKCDA), the HKSAR Government last year authorized the sale of residential development projects permitted under the WKCD Development Plan. It is critical to note, however, that these residential plots risk a tenure predicament where the remaining lease term is less than 50 years—a factor that could severely undermine potential revenue and asset valuation.

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