A 50-year lease is being considered by the government on the Sha Tin racecourse which would allow the Hong Kong Jockey Club (HKJC) to expand its footprint by 20 percent.
Talks are under way to extend the land lease from 15 years after the last contract expired in 2012.
HKJC is temporarily renting the premises from the government, pending a new lease, Sing Tao Daily reports.
The proposal covers areas presently used for stables and includes new public recreational facilities inside the racecourse and nearby Penfold Park, as well as a wider bicycle lane.
A Lands Department spokesperson confirmed that discussions are continuing on a “special purpose” land lease spanning 50 years.
The government first awarded the lease to the racecourse operator in 1977. It was renewed for 15 years in 1997.
HKJC has been in talks with the government on a lease agreement that would include management of Penfold Park which adjoins the racecourse.
The government wants HKJC to upgrade the facilities in Penfold Park and the public areas inside the racecourse.
In turn, HKJC wants to operate the park and the racecourse without having to go through frequent lease renewals.
The jockey club holds about 682,300 square meters of land in Sha Tin, with an 126,000 square meters expected to be included in a new lease.
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