Hong Kong's Land-Lease System: A Blueprint for African Cities to Capture Land Value
A Model for Urbanization and Revenue
Unlocking the Potential of African Cities
As urbanization continues to reshape the face of Africa, city governments are grappling with the challenge of capturing land value to fund essential services and infrastructure projects.
Learning from Hong Kong's Success
In this article, we explore Hong Kong's unique land-lease system, which has played a pivotal role in the city's urban development and financial prosperity. By understanding its principles and implementation, African cities can unlock vast revenue streams and fuel their own growth and transformation.
Exclusive Land Ownership and Value Capture
Since 1997, the government of Hong Kong has held exclusive ownership of all land in the city, except for a single plot. This centralized control allows for comprehensive planning and value capture through a system of land leases and premiums.
Lessons for African Cities
African cities can draw valuable lessons from Hong Kong's experience:
- Establish a clear and exclusive land tenure system.
- Implement a comprehensive land-use planning framework.
- Utilize land leases and premiums to generate revenue.
- Promote transparency and accountability in land management.
Conclusion
Hong Kong's land-lease system offers a powerful blueprint for African cities seeking to capture land value and fuel their development. By embracing its principles and customizing them to their own unique circumstances, African cities can unlock the potential of their land assets and create prosperous and sustainable urban environments for their citizens.
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