Residential buildings in the Yuen Long area of Hong Kong, Jan. 31.
Photographer: Billy H.C. Kwok/Bloomberg
Environment
Property Tycoons Ignore Flood Risk on Hong Kong's Last Frontier
- City’s largest developers are betting big on low-lying area
- Experts say government too optimistic about rising sea level
For Hong Kong tycoons like Li Ka-shing, the New Territories is the final frontier. The verdant stretch in the west end offers one of the last relatively undeveloped patches in the cramped city, a gold mine for development in the world’s most expensive housing market.
But for environmentalists watching the billion-dollar projects unfold, the expansion ignores a major risk: The district has a greater chance of flooding than almost anywhere else in Asia as global warming pushes sea levels higher.