A new business district in Kowloon East is under planning by the HKSAR Government. Kwun Tong, Kowloon Bay and the former Kai Tak Airport site are set to combine to form a new business district for Hong Kong. Secretary for Development Carrie Lam said the booming financial sector requires more quality office space, due to dwindling supply in Central and Wan Chai. outlining plans of the new business district in Kowloon East will include government sites, commercial and business development, open spaces, a monorail, pedestrian bridges, a promenade, and water-sports and marina facilities.
     Mrs Lam said two major projects include the Hoi Bun Road Redevelopment and Kwun Tong Ferry Pier Waterfront Development are under planning. The former involves the relocation of a waste recycling centre and vehicle-examination centres for the development of offices, exhibition facilities and hotels. The latter will be transformed into small offices, outdoor performance areas and restaurants. The Kai Tak Government Office will be built for the relocation of Government offices from Wan Chai. A 12-station monorail line will be built, linking to MTR stations. A Kowloon East Development Office will also be formed to monitor the development projects.