Hong Kong targets 900 hectares of ready land in Northern Metropolis over five years
Deputy Financial Secretary Michael Wong says the government plans to produce 900 hectares of serviced land in the Northern Metropolis from 2026/27 to 2030/31, providing 70,000 residential units and 1 million sq m of economic floor space.
Deputy Financial Secretary Michael Wong has said the government aims to produce 900 hectares of serviced land in the Northern Metropolis over the five-year period from 2026/27 to 2030/31, providing about 70,000 residential units and 1 million square metres of economic floor space in the area.
Speaking during a joint debate on the Legislative Council's motion of thanks for Hong Kong's first five-year plan and the Policy Address, Wong said the ambitious targets demonstrated the government's high priority for the Northern Metropolis and its determination to improve people's livelihoods and boost the economy.
He said the Northern Metropolis is no longer just a blueprint, but is gradually entering a phase of harvest. On the residential front, the first public housing estate in Kwu Tung North, Kwan Kwan Estate, will be completed by the end of this year, while several private housing estates in the area will also be launched this year and next. With the commissioning of the Kwu Tung station on the East Rail Line next year and the gradual arrival of various supporting community facilities, Kwu Tung North will provide residents with a new livable community.
On industry, Wong said the Hung Shui Kiu site was successfully awarded in August this year. The winning company is responsible not only for the site's infrastructure and residential development, but also for building and operating a smart modern logistics centre, with an estimated investment of about HK$16.8 billion and the creation of more than 6,000 jobs. The Hung Shui Kiu Industrial Park Company is also actively attracting investment and has begun discussions with some sizable enterprises. The government will invite the market to submit development expressions of interest for the Yuen Long South Advanced Construction Industry Park in the first half of next year.
Wong noted that the government attaches particular importance to the development of the Northern Metropolis University Town. On 17 September, it launched three campus sites in the Hung Shui Kiu University Town for eligible post-secondary institutions to apply, with the earliest institutions expected to move in next year.