African cities explore Hong Kong's land-lease system for revenue generation and public service funding.
African cities, facing rising land prices due to urbanization, seek methods to capture value and generate revenue for public services. Hong Kong's unique land-lease system, owned by the People's Republic of China since 1997, provides valuable insights. Through annual public tenders and auctions, the Hong Kong government leases land for specific periods, generating revenue from land premiums and ground rent. These funds are deposited into a Capital Works Reserve Fund for public works and land development, ensuring control over land use while generating revenue for infrastructure investments.
August 11, 2024
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