A report by the US Motherboard website showed that 1.1 million people in Hong Kong are expected to live on artificial islands over the next 30 years because of the population crisis. The chief executive of Hong Kong, Cari Lam, outlined the plan for the ambitious geo-engineering project in a speech on Wednesday. The plan is named "Lantau Tomorrow Vision," which will add 42,200 acres of new land near Lantau Island, the largest remote island in Hong Kong at the mouth of the Pearl River.
The site was chosen from a list of potential sites, and the Hong Kong government has yet to set a price for the project, but the local media estimated it would cost $ 63.8 billion ($ 500 billion).
"The vision aims at instilling hope among Hong Kong residents for economic progress, improving people's living standards and fulfilling their aspirations for housing and employment," Lam said in a speech.
Hong Kong has the world's lowest-priced housing market for eight consecutive years, according to a survey of house prices in 300 cities, with an average price of about 1,400 square feet. One study found that Hong Kong apartments are the smallest in the world with an area of 484 square feet , There is a shortage of developmentable land, and large numbers of the population - 7.3 million people living approximately 427 square miles - and the growing demand to live in a booming technology center is displacing the population.
Lantau Tomorrow Vision will be the largest land reclamation project in Hong Kong, a process in which new land is being built. Building an island from nothing is not easy. In Hong Kong, roads included sea floor dredging and cement injection, and nearly 6% The territory of Hong Kong, which has 27% of its population.