Hong Kong has established the Hung Shui Kiu Industry Park Company to expedite development of a 23-hectare industrial park under the Northern Metropolis project, earning praise from developers as a 'one-stop service centre'. The company is set to be fully operational by mid-2026, alongside government incentives for a new land tender including phased payments and an extended bidding period.
Hong Kong's government has recently formed the Hung Shui Kiu Industry Park Company to speed up the development of a 23-hectare industrial park in the Northern Metropolis initiative. Described as a 'one-stop service centre', it aims to streamline processes and resolve issues for developers. Stewart Leung Chi-kin, vice-chairman of the Real Estate Developers Association, noted that the approach could draw mainland Chinese enterprises to partner with local firms for investments.
Development Secretary Bernadette Linn Hon-ho announced on Monday that the company, initially funded by the government, is expected to become financially self-sustaining. The park, located in the New Territories' Hung Shui Kiu/Ha Tsuen New Development Area, is intended as a hub for high-end professional services and logistics. It forms part of the Northern Metropolis, a plan to redevelop 30,000 hectares near the mainland China border into areas for innovation and technology, housing, and a university town.
On Tuesday, the government launched a tender for the first pilot under its large-scale land disposal scheme, covering 11 hectares with three residential plots and three enterprise and technology park sites. The six-month tender, ending in early July next year, includes incentives such as an additional residential site to boost viability and a phased premium payment: bidders must pay 25 per cent within 28 days, with the remaining 75 per cent settled interest-free over three years. These measures aim to ease financial burdens and allow time for partnerships or financing.
Observers believe this 'large-scale land disposal' strategy will aid Hong Kong's economic diversification. Legislative Council member Edward Lau Kwok-fan praised the company for effectively coordinating stakeholder interests.