Deficit projected for Hong Kong’s arts hub narrows from previous forecast, amid hope of easing financial woes through building office zone

A massive deficit projected for the multibillion-dollar arts hub in Hong Kong has significantly narrowed from last year’s forecast, with observers hoping its coming tender for an office development project would help ease financial woes.In a Legislative Council document submitted to lawmakers on Wednesday, the West Kowloon Cultural District Authority estimated its unaudited operating deficit before depreciation and interest expenses would be HK$491 million (US$63 million) for the financial year…

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