Hong Kong’s development chief said on Wednesday that local and overseas businesses have expressed a strong interest in the city’s Northern Metropolis project, and a significant number of developable lands and industrial floor spaces will be ready in the next few years to cater to their needs.
During a Legislative Council meeting on Wednesday, Secretary for Development Bernadette Linn Hon-ho said multiple new development areas within the Northern Metropolis have been under construction since 2019 and are currently in full swing, when she orally replied to lawmaker Starry Lee Wai-king’s question about the mega project’s progress.
The under-construction Northern Metropolis covers Yuen Long and North districts, spanning a total area of 30,000 hectares — about one-third of Hong Kong’s total land area. It is positioned as the city’s new growth engine, a cross-boundary innovation collaboration platform between Hong Kong and Shenzhen, and a future resource of the special administrative region’s housing land supply.
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Linn said as development continues, a substantial number of developable lands and industrial floor space will be created in the coming years in the Northern Metropolis.
For businesses interested in establishing a presence in the new town, the Office for Attracting Strategic Enterprises (OASES), InvestHK — an official body for luring external investment — and the Northern Metropolis Co-ordination Office will offer timely help, Linn said.
OASES, which is responsible for attracting high-potential and key technology enterprises globally, has announced that 84 enterprises are willing to set up or expand operations in Hong Kong. Among them, Linn said many are looking to establish a foothold in the Northern Metropolis, too.
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Meanwhile, among the over 500 businesses that successfully expanded their presence in Hong Kong last year with the assistance from InvestHK, many companies expressed interest in industrial lands in the Northern Metropolis.
The Northern Metropolis Co-ordination Office will continue to organize large-scale investment promotion events to inspire local, Chinese mainland and overseas companies to engage in and suppport the Northern Metropolis’ growth, Linn said.
As for the Hong Kong park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, Linn said the park will officially enter its operational phase this year.
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Construction of the first three buildings in the park – two housing wet laboratories and one dormitory building, was basically completed in March, paving ways for its full operation.
Linn said nearly 30 companies have shown a strong interest in establishing a base there, with negotiations at an advanced stage. She said she anticipates the first group of tenants will be able to move into the park in the second half of this year.
The park’s management team is accepting lease applications, Lin added.
