The Culture, Sports & Tourism Bureau today announced that it has approved the sale of New World Development's (NWD) shareholding in Kai Tak Sports Park Limited (KTSPL) to Chow Tai Fook Enterprises (CTFE).

The bureau noted that it has considered the information submitted by KTSPL and decided to approve the application for the relevant shareholding change.

CTFE has assured the Government of its commitment to dedicating resources to ensure the smooth construction progress of the Kai Tak Sports Park (KTSP) and to take forward the operation of the KTSP in partnership with the Government.

Opening in the first quarter of 2025, the KTSP is the largest sports infrastructure project ever commissioned in Hong Kong.

The KTSP is funded by the Government, with KTSPL responsible for its design, construction, and future operation.