ebulletin

September 1, 2025
HKIA's latest development and upcoming projects

The Third Runway at Hong Kong International Airport (HKIA) was officially commissioned on November 25, 2022, marking a pivotal milestone in the airport’s transformation into a Three-Runway System (3RS). The new 3,800-meter runway began operations in July 2022, with supporting infrastructure—including taxiways, aprons, and the Integrated Airport Centre—completed on schedule.

Key Infrastructure Milestones:

Terminal 2 Expansion: Set to reopen in September 2025, transforming T2 into a full-service terminal for arrivals and departures.

T2 Concourse, baggage handling system, and automated people mover: Completion targeted by late 2024, enhancing passenger flow and operational efficiency.

Capacity Boost: The 3RS increases HKIA’s passenger and cargo handling capacity by 30%, reinforcing its role as a leading aviation hub.

Airport City & SKYTOPIA: A New Urban Landmark

The Airport Authority Hong Kong (AAHK) is spearheading the development of Airport City, branded as SKYTOPIA, a multi-phase urban transformation around HKIA that integrates aviation, commerce, culture, and leisure.

These developments are designed to attract investment, tourism, and cultural engagement, positioning HKIA as a destination in itself, not just a transit point.

(AAHK)

Sectoral Impact: Construction, Real Estate, and Finance

Construction & Engineering:

The 3RS project involved 650 hectares of land reclamation, equivalent to 34 Victoria Parks. Modular construction, marine logistics, and phased handovers were key to maintaining timelines despite COVID-19 disruptions. Future projects like the marina and arena will require specialized marine, structural, and MEP expertise.

Real Estate Development:

The Airport City blueprint introduces Grade-A office towers, luxury hotels, and mixed-use spaces, creating new commercial nodes. Proximity to transport links (e.g., Zhuhai-Macao Bridge, Airportcity Link) enhances land value and development potential.

Financial Sector:

The total cost of the 3RS is estimated at HK$141.5 billion, funded via a self-financing model including market borrowings, adjusted airport charges, and construction fees. HKIA’s AAA credit rating supports bond issuance and investor confidence. The Airport City is expected to be a key economic driver, catalyzing growth in logistics, tourism, and retail.

Outlook

With the 3RS now operational and Airport City entering its next phase, HKIA is poised to reclaim and expand its status as a global aviation and commercial hub. For stakeholders in construction, real estate, and finance, the opportunities span infrastructure investment, mixed-use development, and cross-border logistics integration. (Reported by Building.hk)

(HKSARG)