Hong Kong's Secretary for Development Bernadette Linn Hon-ho said dedicated laws for the Northern Metropolis may speed up some projects by about one year. She revealed the government is preparing to increase the residential component of some sites to appeal to developers. The government unveiled a plan for six subsidiary laws earlier this month to remove bottlenecks in the massive scheme.
Hong Kong's Secretary for Development Bernadette Linn Hon-ho said on Sunday that dedicated laws to streamline statutory procedures for the Northern Metropolis may speed up some projects by about one year.
The government unveiled a plan earlier this month for six main subsidiary laws designed to remove bottlenecks in the massive development scheme near the border with mainland China. These include establishing statutory firms, measures to speed up land resumption payments, and adopting new building technologies. "Some individual projects [within the Northern Metropolis] could be fast-tracked by one year," Linn told a television programme.
The megaproject, announced in 2021, aims to turn 30,000 hectares (74,132 acres) of land into an engine for economic growth and a housing hub. Chief Executive John Lee Ka-chiu has vowed to expedite its development, aligning with the nation’s recently unveiled 15th five-year plan.
Linn added: "If the statutory processes remain unchanged, how can the megaproject be sped up?" The authorities are also preparing to increase the residential component of some sites to make the investment more appealing for developers.