Hong Kong authorities to sell large land parcel next year to fast-track Northern Metropolis
Secretary for Development Bernadette Linn also hints government may separately sell more land in last quarter of 2024-25 financial year
Secretary for Development Bernadette Linn Hon-ho also hinted on Sunday that the government could separately sell more land in the city in the last quarter of the 2024-25 financial year, after Chief Executive John Lee Ka-chiu earlier announced fresh measures to boost the property market.
On the megaproject front, the minister said authorities would seek the private sector’s views on its large-scale, land-disposal pilot scheme, which involves developers bidding for a site of 10 to 20 hectares (24.7 to 49.4 acres) to build private properties and public facilities.
“We hope the public-private partnership can save the government’s money in constructing the infrastructure … We hope to seek views from the market and make some reasonable modifications,” she told a TV programme.
“We expect the chance of success to be high. But if we fail, we may need to use public money to work on the projects.”
The government had identified three large-scale land parcels for use in the pilot scheme, with the sites located in Hung Shui Kiu, Fanling North and San Tin.