‘West Kowloon Cultural District Authority gets green light to sell residential development in arts hub’s second zone to replenish finances’
‘The authority behind Hong Kong’s premier arts hub has received approval to sell some of its land and topped up its bank facility to HK$5 billion (US$640 million) to avert a potential financial crisis.’
‘The measures have given the cash-strapped West Kowloon Cultural District Authority (WCKDA) a much-needed lifeline, with its initial HK$21.6 billion endowment from the government previously expected to run out in June of next year.’
The Post breaks down the new measures and their potential impact on the premier arts hub.’
