REVITALISING SLEEPY NEIGHBOURHOOD
While much hope is riding on the mega infrastructure to draw in the crowds, observers said only time will tell if the billions dedicated to the sports park will be well spent.
They believe the Kai Tak Sports Park can also help to revitalise an otherwise old and sleepy neighbourhood.
“Kai Tak will see an increase in vibrancy. You will see more and more visitors paying visits to Kai Tak, not just the tourists, but also the local community as well,” said Marcos Chan, executive director and head of research at real estate consultancy CBRE Hong Kong.
“As footfall increases, you will probably see more retailers or other commercial operators.”
Andrew Kinloch, managing director of infrastructure finance advisory Logie Group, said: “The idea of bands who tour around the region… if they were going to two or three locations anyway, it’d be fairly easy for them to add Hong Kong as another location.”
He also had another idea which has not quite taken off in Hong Kong.
“As far as I know, there’s not a lot of ice-skating shows,” he added. “For example, we have several ice rinks, but do they come with audience facilities? Is it even feasible to put ice into the indoor arena? The point is, we need to think as laterally as possible.”
However, there are mixed reactions in Kai Tak.
For Eric Nun, who has been operating a luggage shop in the neighbourhood for 45 years, he has his reservations.
“I think this area is too old, and the business industry is too limited,” said the owner of Ngan’s Brother Leather Co.
“So you can’t attract people here. If you can’t attract even the locals, how can you attract foreigners? There’s nothing here but food.”
Meanwhile, Nakawiwat Somchai, owner of Peelong Thai Traditional restaurant, which operates in the same neighbourhood, is optimistic about the opportunities.
He expects business to improve by 40 per cent once the sporting hub is fully operational.
“(After you come watch football matches or attend concerts), there are so many different kinds of food that you can eat here,” he added.
