The Hong Kong Chief Executive announced in his 2024 Policy Address the adoption of a large-scale land disposal approach to expedite the development of the Northern Metropolis (NM). In the first quarter of this year, the government invited the market to submit expressions of interest for the three pilot areas. Market responses were positive, highlighting strong industry engagement with the plan.
According to the latest update, the government plans to begin tendering for the pilot area in Hung Shui Kiu / Ha Tsuen NDA by the end of this year, leveraging private market forces and adopting diverse development modes to accelerate the development of the NM. While improving the efficiency of land supply, this approach can also foster industrial diversification and stimulate economic growth in the region.
Nevertheless, we believe the current large-scale land disposal approach still presents areas that warrant attention and refinement to ensure alignment with market demand, timely provision of infrastructure, and the long-term sustainability of the development model.
In this special report, we provide a comprehensive review of the large-scale land disposal approach in the NM, exploring potential opportunities and challenges, and sharing our views and recommendations. We hope this will serve as a forward-looking reference for the industry and policymakers.
