The sailing industry on Thursday said they welcomed Financial Secretary Paul Chan’s plan to build a new waterfront landmark in Hung Hom, with a yacht club mooted there.

Delivering his budget speech the day before, Chan said the MTR Corporation has been asked to conduct a study to develop an area south of Hung Hom Station, as well as nearby pier sites.

"This is definitely good news to promote yachting and yachting tourism in Hong Kong," the Commodore of the Royal Hong Kong Yacht Club Adrian Pang told RTHK's Hong Kong Today programme.

Pang said that currently, Hong Kong lacks berths and moorings for boats that want to visit the SAR, adding that authorities can do more to provide land for yachting.

He also pointed out the city’s geography means there is a lot of potential in developing the sailing industry.

"If you look at Hong Kong, we are unique in a sense that if you look at the Greater Bay Area, we have the most beautiful coastline, we have all the ecoparks."

Authorities want the Hung Hom landmark to also include "iconic commercial and residential developments, retail, dining and entertainment facilities".

"I welcome the government to do more studies and hopefully we can develop more sites," Pang added.