If the HK Government gives up on HKDL, there's about a 90% chance that it will be leveled for additional housing/retail. There is tremendous pressure on the government to build housing and that's their priority. The billion+ that Disney is currently investing in the property is to hold off the government seizing the land for their second gate, which was pretty close to happening.
There's zero chance the HK Government will sell the land outright to a foreign corporation.
I don't see how HK Government will destroy HK Disneyland even if they want to rid itself of the responsibility. A contract is still a contract. They will try to build the second park before they lose the opportunity. This is the land that some want for public housing. There's pressure to build housing, but it requires legislation. They aren't that stupid. Disneyland is on reclaimed land. If it wasn't for HKDL, the land wouldn't exist.
"Speaking to lawmakers in a legislature meeting, Chan acknowledged that the site currently cannot be used for residential purposes, according to the land contract.
“But we hope Disneyland can consider its social responsibility and allow an exemption, so that the site can be used for transitional housing,” Chan said.
The 148-acre piece of land is reserved for a second-phase development of the theme park, which opened in 2005. Suggestions for the tract to be converted to housing have been made before.
A Hong Kong Disneyland spokesperson
told the South China Morning
Post that the question of the park’s development is “a matter for discussion between the two shareholders—the Hong Kong government and the Walt Disney Company.” Disney representatives did not respond to TIME Tuesday."
There is one possible arrangement. HK Gov't can decide on a leaseback arrangement. Disney can take on all responsibility and profits, while the gov't gets rent for Disneyland and the land. No more risk for the HK Gov't.
