Hong Kong Tourism Helps Spark Boom in Infrastructure Projects
A customer checks a luxury handbag at a Milan Station outlet in Hong Kong Bobby Yip / Reuters
Hong Kong’s famously ambitious urban planning combined with its popularity among tourists will produce some epic infrastructure projects in the next few years.
Excerpt from Wall Street Journal
[Hong Kong] is no stranger to large construction projects. But the scope of infrastructure development the city has in the works is extreme even by its standards, with the pace of construction taking a toll on labor availability and straining budgets.
Rising costs of public-construction projects, ranging from several new subway lines and a high-speed railway between Hong Kong and neighboring Guangdong province to a cruise ship terminal at the city’s old airport and a bridge that will be among the longest in the world, are making the city one of the world’s most expensive locations to build in, according to U.K. property and construction firm EC Harris.