Hong Kong authorities have expedited the Northern Metropolis megaproject by setting up a non-statutory company to run a 23-hectare site in Hung Shui Kiu, while putting up the pilot area for tender.
In a statement issued on Monday, the Development Bureau said it planned to name the company the Hung Shui Kiu Industry Park Company. The firm would be fully operational by mid-2026 as authorities had been working at full speed to complete company registration, land allocation, capital injection and personnel appointments.
“The Northern Metropolis megaproject is industry-driven. Establishing a wholly government-owned company serves as an additional tool to traditional approaches,” Secretary for Development Bernadette Linn Hon-ho said in the statement, referring to the authorities’ ability to expedite land sales, in situ land exchange and large-scale land disposal to attract investors.
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“[The company] will allow the government to participate directly in industrial construction and operations, playing a connecting role to combine market forces and public-private partnership to speed up industry development of the project.”
The 23-hectare (57-acre) site will be land premium-free. It will also be rezoned to delineate areas for advanced construction, high value-added or intelligent manufacturing and supporting facilities, distinguishing such activities from the existing port, logistics, storage and factory use.
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“If approved by the Legislative Council, the government will inject initial capital into the Hung Shui Kiu Industry Park Company to support its initial operation and development needs,” Linn said.