Hong Kong eyes turning Hung Hom waterfront into yacht bay for rich tourists

Hong Kong authorities plan to turn the area around a premier concert venue in Hung Hom into a landmark waterfront, complete with a yacht marina and a 50-storey tower equipped with entertainment facilities, over more than a decade.

The Development Bureau on Friday shared its preliminary development proposal for the HK$10 billion (US$1.29 billion) to HK$20 billion project around Hong Kong Coliseum, adding that it expected the private sector to take up the entire initiative.

The development spans a combined area of 24 hectares (59 acres). The undertaking would involve the construction of residential, commercial, retail and entertainment premises along the harbourfront, as well as improving existing passageways, bus stops, a public transport…