West Kowloon Cultural District Authority reports deficit climbs to HK$998 million

For the 2025/26 financial year, the West Kowloon Cultural District Authority disclosed a deficit of HK$998 million, up about HK$229 million from the prior year. The increase stems mainly from higher operating expenses linked to preparatory activities for the soon-to-open WestK Performing Arts Centre, an expanded scope of operations and a growing visitor base, as well as upgrades to facility management and digital systems.

Revenues, however, climbed to HK$768 million from HK$645 million, improving the overall cost-recovery ratio from 37 percent to 40 percent. The authority described the period as a financial transition and said it is advancing residential and commercial development within the district. It also reported progress on a financing strategy aimed at diversifying funding and relieving short- to medium-term cash-flow strain.