The proposed site will contain galleries, museums and performing arts venues, as well as a huge tree-lined public park.
Debate has raged since the announcement - particularly over how closely the government will stick to Foster's predominantly 'green' design.
Local commentator Jake van der Kamp was one urging cynicism after the Hong Kong government said 73 percent of the budget will be spent on buildings, 13 percent on renovation and repairs, eight percent on arts collections and six percent on management.
Translated, Van der Kamp claimed, that meant out of every dollar spent "73 cents will go to pouring concrete, 13 cents will go to fixing concrete and six cents will go to supervising concrete."
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