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Faced With Chronic Land Shortage, Hong Kong Looks Underground
Hong Kong may dig deep to reverse the city’s chronic land shortage, adding underground caverns to the mix of options aimed at creating more housing in the world’s most expensive property market. It’s an option, according to a government body tasked with coming up with more land for development. Facilities such as sewage plants and reservoirs could be relocated to caverns, freeing up land for housing, the Task Force on Land Supply said on its website on April 26. Hong Kong faces a looming shortfall of at least 1,200 hectares -- or more than 60 times the size of the city’s Victoria Park. “Hong Kong’s hilly ... (full story)