Six-company consortium wins Northern Metropolis tender for HK$1.03 billion
A consortium of mainland Chinese firms and a local property company has been awarded a HK$1.03 billion tender for the first major land parcel to be developed as part of the Northern Metropolis mega project in the northern New Territories. However, the fact that the consortium will operate only one of the three tech parks […]
A consortium of mainland Chinese firms and a local property company, with a combined investment of HK$16.8 billion, has won a tender worth HK$1.03 billion for a major development site in Hong Kong's Northern Metropolis. The 11-hectare Hung Shui Kiu/Ha Tsuen plot is the first significant land disposal tender in the area. The six-company joint venture, HSK New Development, includes subsidiaries of China Overseas Land & Investment, China Merchants Land, China Resources Land (Overseas), China Tourism Group, JD.com, and Hong Kong developer Sino Land.
The project aims to create 6,000 jobs and 3,000 residential flats. The consortium will develop three residential sites, an Enterprise and Technology Park, and a large-scale modern logistics hub, with e-commerce giant JD.com as the anchor tenant. The government will manage the other two tech parks and oversee their development and operation.
The tender process considered both monetary and non-monetary factors, such as job creation and attracting high-quality enterprises. While the consortium's involvement in the project is seen as a vote of confidence by government officials, some industry experts express cautious optimism about long-term investment in the Northern Metropolis.
Written by urgent.news from Hong Kong Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
