Experts Warn Property Development Cannot Sustain West Kowloon Cultural District Funding
Experts indicate that property development alone is insufficient to establish a sustainable long-term funding structure for the West Kowloon Cultural District.
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According to the South China Morning Post, experts have stated that property development cannot substitute for a sustainable, long-term funding model for the West Kowloon Cultural District. Norry Lee, who holds the position of senior director at the property consultancy JLL, commented that the site's location and its potential for harbor views make it appealing, especially for larger residences aimed at affluent purchasers. Lee noted that there would certainly be demand for larger flats, particularly those offering sea views, and suggested that the development's scale and prime location would likely attract major developers.
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