Northern Metropolitan Area｜The development of the three areas each has its own positioning and scenario baseline to collect industry intentions
The government is accelerating development in the Northern Metropolitan Area (Beidu) by announcing three pilot projects. These projects are located in Hung Shui Kiu/Ha Chun New Development Area, Fanling North New Development Area, and San Tin Technology City. They cover approximately 12.5, 15.9, and 18.6 hectares respectively, and will feature private residences, industries, and public facilities.
In December, the government will conduct a market intention survey. This survey will present a “baseline scenario” detailing the development requirements. Developers can then provide feedback based on this scenario. Key considerations include payment options for land premiums, such as installment plans, or sharing future profits if developers return land to the government.
A spokesman from the Development Authority stated that developers will be responsible for grading land, constructing public facilities, and other preparatory works. This approach is expected to expedite the overall development, projected to be completed within ten years, and save over 1 billion yuan in costs. Each area’s development is estimated to cost between 10 to 20 billion yuan.
Hung Shui Kiu/Ha Tsuen will become a hub for high-end professional services and logistics. This area can offer approximately 2 million square meters of commercial and industrial space, fostering the development of a new logistics center alongside its “Enterprise and Technology Park.”
how does Dr. Wong believe the new developments will impact housing affordability in Hong Kong?
Interview with Dr. Elaine Wong, Urban Advancement Specialist
News Directory 3: Thank you for joining us today, Dr.Wong. Can you provide us with your insights on the recent government proclamation regarding the three pilot projects in the Northern Metropolitan Area?
Dr. Elaine Wong: Thank you for having me. The government’s decision to accelerate development in Beidu through these pilot projects is a notable step towards enhancing urban infrastructure and addressing housing shortages. Each area has been strategically selected to fulfill specific economic and residential needs, which is crucial for enduring growth.
News Directory 3: The projects cover ample land areas. What do you believe will be the impacts of developing Hung Shui Kiu/Ha Tsuen as a hub for high-end services and logistics?
Dr. Elaine Wong: Developing Hung Shui Kiu/Ha Tsuen into a logistics and professional service hub is notably promising. The availability of around 2 million square meters of commercial space will not only create jobs but also attract businesses seeking proximity to transport networks. This can position the area as a vital logistics center, perhaps transforming local economies and contributing to Hong Kong’s larger economic framework.
News Directory 3: Fanling North has been earmarked for a significant housing supply. How do you foresee the implementation of over 30,000 public and private housing units affecting the community?
Dr.Elaine Wong: Fanling North’s focus on housing addresses a pressing issue in Hong Kong—housing affordability. The planned units will provide much-needed relief to residents while fostering a diverse community. It’s also vital that developers consider integrating green spaces and community facilities, as these contribute to residents’ quality of life and overall social cohesion.
news Directory 3: The San Tin Technology City aims to focus on innovation and technology. What role do you see this area playing in the greater context of Hong Kong’s tech landscape?
Dr. Elaine Wong: San Tin Technology City has the potential to be a cornerstone in Hong Kong’s tech ecosystem,especially with the establishment of the Hong Kong-Shenzhen Innovation and Technology Park.The dedication of 6.13 hectares for private housing within this tech hub is ingenious, as it encourages not just the talent that will work there but also attracts investment in the innovation sector.This could spur further technological advances and strengthen Hong Kong’s position as a technological leader in the region.
News Directory 3: With a market intention survey set for december, how vital is developer feedback in this context?
Dr. Elaine Wong: The upcoming market intention survey is critical. It sets a ”baseline scenario” for development requirements and allows developers to engage actively by providing realistic feedback. Understanding their perspectives on payment options and other conditions can lead to more practical and feasible development strategies that align with market expectations while ensuring the projects’ financial viability.
News Directory 3: The government expects to save over 1 billion yuan while completing these projects in ten years. Do you think this timeframe is realistic?
Dr. Elaine Wong: While enterprising, a ten-year timeframe is absolutely possible. However, it will depend on effective stakeholder collaboration and a streamlined approval process. The commitment to have developers manage land grading and construction of public facilities can help, but it will require diligent oversight to ensure that timelines and budgets are adhered to.
News Directory 3: Thank you, Dr. Wong, for your valuable insights on this pivotal development in the Northern Metropolitan Area.
Dr. Elaine Wong: Thank you for the opportunity to discuss such an important topic. I look forward to seeing how these projects unfold and contribute to the region’s future.
Fanling North, positioned as a key housing supply area, will provide over 30,000 public and private housing units in the next decade. About 5.2 hectares will be set aside for logistics facilities, benefiting from close proximity to border control points. Additionally, a government-funded multi-story industrial building will be constructed here.
Xintian Technology City will focus on innovation and technology, incorporating the Hong Kong-Shenzhen Innovation and Technology Park. It offers 300 hectares of land, with 6.13 hectares designated for private housing. This area has the greatest amount of residential land, encouraging developers to invest in the innovation sector.
These developments aim to create efficient living and working spaces while stimulating the local economy.