A consortium made up of mainland Chinese state-owned and private heavyweights together with a major 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 total investment projected at HK$16.8 billion.
The Development Bureau announced the results on Monday, awarding the tender for the 10.5-hectare development project in Hung Shui Kiu to the six-company joint venture, HSK New Development.
It comprises subsidiaries of China Merchants Land, China Resources Land (Overseas), China Overseas Land & Investment, Sino Land, CTG Investment and mainland e-commerce titan JD.com.
“The consortium of the successful tenderer encompasses not only major enterprises that have long participated in local real estate development, but also market leaders that are well established in other industries,” Secretary for Development Bernadette Linn Hon-ho said.
“This demonstrates that a large-scale land disposal project can facilitate co-operation across different business sectors,” Linn added, noting their “undeniable experience and capability”.
“The six enterprises pool their strengths and join forces to cast a vote of confidence in the Northern Metropolis through concrete actions, setting a new course for the diversified development models in the Northern Metropolis,” she said.