Major multi-disciplinary strategy and master plan for the development of caverns in Hong Kong with the objective of enhancing land supply.

Waters Economics was responsible for the economic aspects, including developing a new framework and guidelines for the economic analysis of projects and the economics of the master plan. This included developing a robust methodology for policymakers and practitioners when considering the prioritisation of caverns in addressing alternative forms of land supply and the Cost benefit analysis (CBA) of cavern development. 

The economic analysis guidelines are used to evaluate the relocation of government facilities from prime sites in an effort to rationalise land resources, including private sector development for suitable uses. The guidelines are potentially to be incorporated into Hong Kong’s planning standards and guidelines.

Core Techniques

Policy Formulation | Cost Benefit Analysis | Performance Management