HK Gov't: Nine new development areas in Northern Metropolis each have functional positioning, including innovation and technology, logistics, and construction, etc.

The Hong Kong SAR Government has submitted a document to the Legislative Council on the progress of industrial development and investment promotion in the Northern Metropolis. It mentions that under the targets set in the first Five-Year Plan, about 900 hectares of serviced land will be produced from 2026/27 to 2030/31, of which over 400 hectares will be industrial land, accounting for more than 40 per cent. It has also successfully attracted a number of enterprises to set up operations in the Hong Kong Park of the Loop, and is currently in preliminary discussions with more than 45 local and overseas enterprises that have expressed clear interest in establishing business operations or facilities in the Northern Metropolis. The document also states that the nine new development areas in the Northern Metropolis each have their own functional positioning, and the industrial layout has gradually taken shape. The Hong Kong Park of the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone in the Loop and the San Tin Technopole are expected to produce about 220 hectares of land for innovation and technology (I&T) use by 2030/31, accounting for more than 70 per cent of the total I&T land in the area. The Hung Shui Kiu/Ha Tsuen New Development Area, adjacent to the Shenzhen Bay Port, has also reserved about 32 hectares of logistics land to create a modern logistics cluster, of which about 75 per cent will be produced in the coming three years, and over 90 per cent in the coming five years. In addition, the Northern Metropolis has reserved 30 hectares of land for building a large-scale advanced construction industry park, with facilities such as steel bar prefabrication and new-type concrete production moving in. The authorities said that the first Hung Shui Kiu pilot area project was awarded in August this year to Hung Shui Kiu New Development Company Limited. The winning company will be responsible for site formation and development of three residential sites, which can together provide more than 3,000 units. It will also build a smart modern logistics centre on enterprise and technopole sites, with JD Group (09618) moving in as the leading enterprise and commencing operation within 55 months. In addition, the winning company is also required to be responsible for the site formation of the remaining multiple sites in the Hung Shui Kiu pilot area, as well as the construction of open space, pedestrian streets and footpaths. Regarding the tendering work for the next Fanling North pilot area, the Government is maintaining close communication with the market to formulate suitable development parameters and tender terms.