Guest Post by Peter Woo of FrontlineTechWorkers
Hong Kong’s third runway is now reported to be a HK$140B (billion) project. How absurd is this? Let’s compare:
Beijing Capital International Airport – Market Capital HK$32.5B
Unlike Hong Kong International Airport, Beijing Capital International Airport is publicly listed, actually on Hong Kong Stock Exchange (0694.hk). With HK$140B, we can buy out Beijing’s airport 4 times.
London Heathrow Airport – Valued at HK$60B
in 2013. That would imply a full stake valuation of the airport to be around GBP4.5B (392M / .0865). Even by taking the peak of GDP/HK$ rate in 2013 at around HK$13 (currently HK$11.37), it would only be HK$60B, i.e. we can buy out the Heathrow Airport twice.