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 companies and a Hong Kong developer has secured the first major land disposal project in Northern Metropolis for HK$1.03 billion. The Development Bureau announced the award, which involves a total investment of HK$16.8 billion. HSK New Development Limited, comprising China Merchants Land, China Resources Land, China Overseas Land & Investment, CTG Investment, and JD.com, will develop a 10.5-hectare site in Hung Shui Kiu.
The consortium received 100 marks in a two-envelope tendering system where bids were evaluated based on land premium and non-price factors, including technology park development and attracting strategic industries. The project will create over 6,000 jobs and consists of four sites, including one leased to JD.com for 50 years. The consortium will invest HK$16.8 billion and form a site for technology park development, which will be handed over to the government before 2028.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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