99-year lease in the context of "Hong Kong"

⭐ In the context of Hong Kong, the acquisition of the New Territories from the Qing dynasty differed from that of Hong Kong Island and Kowloon in that it was established through what type of agreement?




⭐ Core Definition: 99-year lease

A 99-year lease, under historic English law, since widely received abroad, was traditionally seen as the longest practical term of a lease of real property without it being considered perpetual. While it is no longer a hard legal limit in most common law jurisdictions today, 99-year leases continue to be common as a matter of business practice. In some countries (such as Singapore) land reform legislation has resulted in most or all land being owned by the state and leased to users, which often takes the form of a 99-year lease. In this case, the lease is often transferable and treated as essentially equivalent to ownership, at least to the extent that it is the main way in which one may purchase the more or less permanent use of land.

Property scholars describe leasing as a "widespread and highly successful" institutional form that allocates control and risk differently from ownership. Governments have also used 99-year leases for strategic purposes, including the 1940 U.S.–U.K. Destroyers for Bases agreements granting rent free 99-year base rights.

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👉 99-year lease in the context of Hong Kong

Hong Kong is a special administrative region of China. Situated on China's southern coast just south of Shenzhen, it consists of Hong Kong Island, Kowloon, and the New Territories. With 7.5 million residents in a 1,114-square-kilometre (430 sq mi) territory, Hong Kong is the fourth-most densely populated region in the world.

Hong Kong was established as a colony of the British Empire after the Qing dynasty ceded Hong Kong Island in 1841–1842 as a consequence of losing the First Opium War. The colony expanded to the Kowloon Peninsula in 1860 and was further extended when the United Kingdom obtained a 99-year lease of the New Territories in 1898. Hong Kong was occupied by Japan from 1941 to 1945 during World War II. The territory was handed over from the United Kingdom to China in 1997. Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of one country, two systems.

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99-year lease in the context of Rotorua

Rotorua (Māori pronunciation: [ɾɔtɔˈɾʉa] ) is a city in the Bay of Plenty region of New Zealand's North Island. It is sited on the southern shores of Lake Rotorua, from which it takes its name. It is the seat of the Rotorua Lakes District, a territorial authority encompassing Rotorua and several other nearby towns. It has an estimated resident population of 58,500, making it the country's 13th largest urban area, and the Bay of Plenty's second-largest urban area behind Tauranga.

Te Arawa Māori first settled in Rotorua in the 14th century, and a thriving was established at Ohinemutu by the people who would become Ngāti Whakaue. The city became closely associated with conflict during the Musket Wars of the 1820s. Ohinemutu was invaded by a Ngāpuhi-led coalition in 1823, commanded by Hongi Hika and Pōmare I. In the 19th century early European settlers had an interest in developing Rotorua, due to its unique geothermal activity in Rotorua and its surrounding area. Then, efforts by Māori and Europeans alike to establish Rotorua as a spa town led to a 99-year lease of land from Ngāti Whakaue to the Government. The city first became a major site of tourism due to the Rotorua's close proximity to the Pink and White Terraces, until they were destroyed by the volcanic eruption of Mount Tarawera in 1886. Rotorua was elevated to borough status in 1922 and to city status 40 years later.

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99-year lease in the context of Ontario Highway 407

King's Highway 407, commonly referred to as Highway 407 and colloquially as the "four-oh-seven", is a 400-series highway in the Canadian province of Ontario. Comprising a tolled privately leased segment and a publicly owned segment, the route spans the entire Greater Toronto Area (GTA) around the city of Toronto, travelling through the suburbs of Burlington, Oakville, Mississauga, Brampton, Vaughan, Markham, Pickering, Whitby, and Oshawa before ending in Clarington, north of Orono and Newcastle. At 151.4 kilometres (94.1 mi) long, it is the fourth-longest expressway in Ontario's 400-series network, after Highways 417, 400, and 401. The tolled segment between Burlington and Brougham in Pickering is leased to and operated by the 407 ETR Concession Company Limited and is officially known as the 407 Express Toll Route (407 ETR). It begins at the Freeman Interchange between the Queen Elizabeth Way (QEW) and Highway 403 in Burlington; the highway travels 108.0 km (67.1 mi) across the urban GTA to Brock Road in Pickering. East of Brock Road, the freeway continues east as Highway 407 (referred to as Highway 407 East during development to distinguish it from 407 ETR), a route operated by the provincial government and formerly tolled, for 43.4 km (27.0 mi) to Highway 35/115 in Clarington. The route interchanges with nine freeways in Ontario: the QEW, Highway 403, Highway 401, Highway 410, Highway 427, Highway 400, Highway 404, Highway 412, and Highway 418. 407 ETR is an electronically operated toll highway; there are no toll booths along the route. Distances are calculated automatically using transponders or automatic number-plate recognition, which are scanned at entrance and exit portals.

Highway 407 was planned in the late 1950s as a freeway bypassing Toronto's segment of Highway 401, the busiest highway in North America. However, construction did not begin until 1987. During the early 1990s, the provincial government proposed tolling the highway to alleviate a revenue shortfall. The central sections of Highway 407 opened in 1997, and the remaining sections were built quickly over the following four years, with the final segment opening in mid-2001. Despite being included in the 400-series network, the Highway 407 ETR section is not considered part of the provincial highway network as it is now privately operated. The segment is operated privately under a 99-year lease agreement signed with the Conservative provincial government, which was sold in 1999 for about C$3.1 billion to a consortium of Canadian and Spanish investors operating under the name 407 International Inc. The privatization of the Highway 407 ETR section has been the source of significant criticism, especially regarding increases in tolls, plate denial, and false charges. In addition, the safety of segments built after the sale of the freeway has been called into question.

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99-year lease in the context of Hong Kong SAR

Hong Kong is a special administrative region of China. Situated on China's southern coast just south of Shenzhen, it consists of Hong Kong Island, Kowloon, and the New Territories. With 7.5 million residents in a 1,114-square-kilometre (430 sq mi) territory, Hong Kong is the fourth-most densely populated region in the world.

Hong Kong was established as a colony of the British Empire after the Qing dynasty ceded Hong Kong Island in 1841–1842 as a consequence of losing the First Opium War. The colony expanded to the Kowloon Peninsula in 1860 and was further extended when the United Kingdom obtained a 99-year lease of the New Territories in 1898. Hong Kong was occupied by Japan from 1941 to 1945 during World War II. The territory was handed over from the United Kingdom to China in 1997. Hong Kong maintains separate governing and economic systems from those of mainland China under the principle of one country, two systems.

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