Yet another North Lantau Coast development is on the drawing board.

The latest is MTR Corp’s residential and retail project at Siu Ho Wan, about three kilometres east of Tung Chung.

The 30ha development, on top of the MTR rail depot, will create 14,000 apartments and 320,000 square feet of shopping malls, Economic Times reports.

Much of it will be low-rise, with altogether 108 buildings planned to house 38,000 people. The development will also include three schools, four kindergartens and a public transport interchange.

More than a quarter of the residential buildings will be built along the coast, looking out across Tung Chung Bay. More than 40 low-rise residential blocks will face North Lantau Highway.

However, the project is some time away. Construction is not expected to start until 2023 when work on the low-rise homes is due to get underway, and initial occupants are scheduled to move in in 2026. The final stage of the three-part project is forecast to complete in 2038.

The development will also include a new MTR station, due to start construction in 2016 and be completed in 2026. It is the third new station planned for the area, along with Tung Chung West and Tung Chung East.