Hong Kong sets up Hung Shui Kiu industrial park operator, sweetens land tender
Hong Kong’s government will set up a dedicated company to run a huge industrial park in Hung Shui Kiu and launch a six-month tender for a pilot area within the zone, offering incentives to encourage bids as part of an initiative to accelerate development of the Northern Metropolis. Secretary for Development Bernadette Linn Hon-ho said…
Secretary for Development Bernadette Linn Hon-ho said on Monday that the newly formed Hung Shui Kiu Industry Park Company was expected to be financially self-sustaining despite the government’s initial capital infusion, while the successful bidder for the first land parcel would be allowed to pay up to 75 per cent of the premium within three years as part of the incentives.
The 23-hectare (57-acre) industrial park in the New Territories is part of the Hung Shui Kiu/Ha Tsuen New Development Area, which the government aims to turn into a hub for high-end professional services and logistics.
Linn also announced that the tender for the first pilot area under the government’s large-scale land disposal scheme would be put out on Tuesday and end in early July next year. It covers 11 hectares in the area.
She said incentives would be introduced to attract more bids after authorities talked to potential participants, including the addition of one more residential site to improve the viability of the land parcel and an extended bidding period.
Hung Shui Kiu/Ha Tsuen forms part of the Northern Metropolis that is designed to facilitate the diversification of Hong Kong’s economy. Under the ambitious plan, 30,000 hectares of land near the city’s border with mainland China will be transformed into a hub that includes innovation and technology businesses, housing estates and a university town.
