The Kowloon Bay International Trade and Exhibition Center, held by csi properties (00497.HK), Yuzhou Properties, and other consortia, will operate until the end of this month and is undergoing reconstruction. The relevant consortia recently submitted a new proposal to the Planning Department, hoping to change the project from pure commercial development to mixed commercial and residential development, providing 1,881 new residential units for the area.

The Planning Department received public comments on the above rebuilding plan earlier this month, and as of the 17th of this month, a total of 535 opinions were submitted. 458 of them were in favor, accounting for about 86% of the total; 60 were against, accounting for about 11% of the total; and the remaining 17 were neutral or proposed their own opinions on the plan.

The Planning Department revealed that most stakeholders who support the redevelopment plan believe that adding residential purposes for the Kowloon Bay Exhibition Centre will increase the supply of housing in the area, in order to meet the huge housing needs in Hong Kong and attract talents to live in the area. However, at the same time, stakeholders who oppose the plan believe that after the renovation, there is no good transportation network connecting to the Kowloon Bay Exhibition Centre. The nearest MTR station is at least a 15-minute walk, and in the future, residents will have to rely on private cars for access, which is expected to have a negative impact on the traffic conditions in Kowloon Bay. (js/cy)

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