How hong kong land developer collect farm land?
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Hong Kong land developers acquire land through various methods such as public auctions, redevelopment, lease modifications, and joint bidding . Developers in Hong Kong can also capture land value through negotiable developer obligations (NDO) imposed during the planning permit process . The government in Hong Kong primarily relies on public land auctions to capture land value due to lower transaction costs compared to other mechanisms like lease renewal or land rent collection . Additionally, cavern development is explored as a means to create land supply by repurposing underground quarries for various uses, providing a valuable land bank while preserving the surface environment .
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01 May 2019 3 Citations | In Hong Kong, developers can collect farm land through negotiable developer obligations (NDO) imposed via planning permits, and potentially through non-negotiable obligations in land readjustment mechanisms. |
49 Citations | Not addressed in the paper. |
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