Consortium wins Northern Metropolis project with HK$1.03b bid
A consortium of mainland Chinese-backed companies and a subsidiary of a Hong Kong developer has won the first “large-scale land disposal” project in the Northern Metropolis for HK$1.03 billion (US$132 million), with the total investment expected to reach HK$16.8 billion. The Development Bureau announced the results on Monday, awarding the tender for the 10.5-hectare development project in Hung…
A consortium of mainland Chinese-backed firms and a Hong Kong developer has won a HK$1.03 billion development project in the Northern Metropolis, with total investment anticipated to reach HK$16.8 billion. The Development Bureau announced the results, awarding the tender to the six-company consortium, HSK New Development Limited.
Secretary for Development Bernadette Linn Hon-ho praised the consortium's combined expertise and capabilities, noting their potential to foster cross-sector collaboration. The consortium, comprising China Merchants Land, China Resources Land (Overseas), China Overseas Land & Investment, a Sino Land subsidiary, CTG Investment, and mainland e-commerce company JD.com, received 100 marks under a two-envelope tendering system.
They beat Henderson Land Development, the only other competitor. The project, located in a future high-end professional services and logistics center, will involve an investment of HK$16.8 billion and create over 6,000 jobs. The consortium will develop residential plots, build flats, and create a smart logistics center, with JD.com occupying a significant portion of the facility.
The consortium is also responsible for leasing four sites and conducting formation works for other sites, two of which will be granted to the Hung Shui Kiu Industry Park Company.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
