Development chief hails ‘diversified’ consortium in Northern Metropolis pilot bid
Despite receiving two bids for Hung Shui Kiu project, Bernadette Linn says mix of property developers and operators meets government’s aim
Hong Kong’s development chief has welcomed the collaboration between property developers and industry operators in bids for a Northern Metropolis pilot project, saying the consortium reflected diversity and the government’s aim of pairing the two sectors.
Secretary for Development Bernadette Linn Hon-ho made the remarks on Saturday despite the government receiving only two bids for the Hung Shui Kiu project when the tender closed a day earlier.
Henderson Land Development submitted a standalone bid, while Sino Land partnered with five companies: China Merchants Land, China Resources Land (Overseas), China Overseas Land & Investment, CTG Investment and Chinese e-commerce firm JD.com.
Linn said that, unlike previous standalone residential or commercial land tenders, the new Northern Metropolis model had achieved the government’s goal of pairing traditional developers with industrial operators.
The Hung Shui Kiu plot is the first large-scale land sale in the Northern Metropolis under a model designed to combine property development with the creation of an innovation and technology (I&T) hub.
Linn said she was particularly pleased that the bids differed from past tenders for residential or commercial sites, which often attracted “homogeneous” bidders.