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#Videocrux - Hong Kong's old airport set for takeoff Hong Kong's old airport set for takeoff
It's one of the most valuable pieces of derelict land in the world. The old Kai Tak airport on the Hong Kong waterfront is estimated to be worth up to forty billion US dollars. Now, it might be a decade late, but the Hong Kong government has a plan.
$40 billion worth of airport in Hong Kong
It's probably the most valuable piece of derelict land in the world. The old Kai Tak airport on the Hong Kong waterfront is estimated to be worth up to forty billion dollars. Equal in value, experts say, to around thirty of the world's tallest skyscrapers.
Airport regarded as the scariest in the world
Right in the heart of the city, the airport was also one of the world's scariest. Planes would make a sharp turn over Kowloon as they came in to land and pass almost within touching distance of apartment buildings. Kai Tak closed in 1998 when a new airport opened on the outskirts of Hong Kong and the prime strip of land has been used for little else since.
Airport to be coverted into cruise ship terminal
The site was left to crumble because the Hong Kong authorities could not reach agreement on what exactly to do with it. But, finally, the government has a plan. Starting with a terminal for cruise ships.
Stadium and houses to be built in the region
The plans also include sports stadiums and a park. And, of course, there's room for luxury housing on the old runway itself. It has a very unique location because it has water on two sides and has a very spectacular or panoramic view to the Victoria Harbour.
Prices to be high in most expensive city
A studio apartment sold recently in Hong Kong for over three million dollars. And the old runway is sure to be a winner. It'll be finished around 2025. And should be a much quieter place to live, if not quite as exciting.

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