The former Explosives Magazine site on Justice Drive, Admiralty, is set to be converted into an arts and culture centre. An Asia Society Hong Kong Centre application for a 21-year private treaty grant on the site at nominal premium has been granted.

The non-profit organisation plans to restore the site's historical buildings and convert them into facilities for exhibitions, arts and cultural performances, lectures, conferences, offices and other activities.

It will complete the project in three years' time, meeting all project costs, at around $200 million, and be responsible for subsequent operation of the multi-purpose centre and maintenance.

Heritage conservation

The Home Affairs Bureau said the project will promote heritage conservation, help bring a new cultural scene to the community, promote cultural exchange and tourism, and strengthen Hong Kong's status as Asia's world city.

It also strengthens the partnership between the Government and the non-profit making sector in the promotion of heritage conservation, arts and culture.

The society obtained Town Planning Board approval for the project in 2002 and the Executive Council's in-principle support for the private treaty grant.