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Edith Lin

The Hong Kong government will consult developers and make any necessary changes to its pilot scheme for developing large land parcels in the Northern Metropolis to better leverage market forces for the construction of the megaproject near the mainland China border.
The Development Bureau announced details of plots earmarked for the land-disposal pilot scheme on Friday.
It calls for developers to conduct site formation work and build public facilities for the government while keeping the private residential sites for profit.
“We view the proposal of the three pilot areas as financially viable,” the bureau spokesman said. “But if developers disagree, I hope they can talk to us and we can make modifications.”
He said the government would invite expressions of interest from developers starting in December and seek their views on incentives for pursuing non-residential development, as well as paying premiums in stages.
The government blueprint calls for turning 30,000 hectares (74,130 acres) of land in the New Territories into an economic powerhouse and housing hub.


Acknowledging the underperforming economy, the bureau spokesman said the government hoped to share the risks with developers.
He said each parcel was expected to involve a development cost of between HK$10 billion (US$1.28 billion) and HK$20 billion, but the cost of the work done for the government could be deducted from the land premium.
He also stressed the government would not sell land “cheaply”.
He added that the scheme could save taxpayers over HK$1 billion in total and shorten the development completion time for the plots to 10 years or less.
The pilot scheme reserves three parcels of land between 10 and 20 hectares, including an 18.6-hectare site in San Tin, one-third of which will be dedicated to private housing development.
The parcel in Hung Shui Kiu measures 12.5 hectares, including two hectares for private residential purposes, while the remaining plot in Fanling North involves 16 hectares with three hectares for private flats.


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Government to consult developers starting in December and seek their views on incentives for pursuing non-residential development


Government to consult developers starting in December and seek their views on incentives for pursuing non-residential development.


Northern Metropolis