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Hong Kong tycoon to visit Dundalk as plans for new city progress

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Up to 15,000 Hong Kongers could relocate to Co. Louth if the development gets the green light.

Plans to build a new city for thousands of Hong Kong residents in Co. Louth have taken a step forward.

It’s proposed that up to 15,000 Hong Kongers would relocate to a newly built development called “Nextpolis” near Dundalk over the next five years.

The development would take place on a 50 square kilometre area of land, making it the country’s fifth largest city.

The Irish Independent also reports that Chinese billionaire Ivan Ko, chief executive of the Victoria Harbour Group (VHG), is set to visit Dundalk at the end of this month in a bid to get a deal for the new city over the line.

It’s believed the group is attracted by Ireland’s low corporation tax and the development would provide a home to Hong Kong residents worried about rising political uncertainty in the former British colony.

Mr Ko, who had been in talks with the Irish Department of Foreign Affairs before the Covid-19 lockdown, has since scaled back the size of the proposed development.