The Hong Kong Government has unveiled plans to build a HK$12bn (£1bn) monorail project in Kowloon East, as part of a plan to develop the area into a core business district.

The 9km elevated monorail will have 12 stations and will link the Kai Tak commercial and business developments with the Hoi Bun Road development and the Kwun Tong Ferry pier waterfront development.

The monorail will also provide connections to the future Shatin to Central Link.

The project is part of a HK$100bn (US$12.8bn) investment and is expected to be completed by 2023.