Northern Metropolis tender marks milestone: FS

Financial Secretary Paul Chan announced on Sunday that the government has issued the first tender for a significant land parcel in Northern Metropolis. The project, awarded to HSK New Development, a consortium of six shareholders, involves leveraging private market resources to achieve a mutually beneficial outcome. Chan emphasized that the government's evaluation criteria extended beyond the bid price, focusing instead on the bidder's ability to introduce strategic industries, generate employment, and foster industry chain development.

The large-scale land disposal approach, Chan explained, aims to harness the private market's flexibility, sensitivity, and expertise to expedite development. By doing so, the strategy also minimizes the government's financial input. This groundbreaking tender marks a pivotal moment for the Northern Metropolis' development, and Chan promised ongoing dialogue with the market.

Additionally, a financial advisory taskforce will be established to create customized financing arrangements for the project's various stages, from design and construction to future operations.