Hong Kong is granting Northern Metropolis land to tech firms. Will it pay off?
Hong Kong's finance chief announced a shift in land allocation for the Northern Metropolis, prioritizing companies with cutting-edge technology and job creation potential through direct land grants. This new approach aims to accelerate the development of the 30,000-hectare area in the New Territories into a major economic and housing hub.
Financial Secretary Paul Chan Mo-po emphasized that this process would differ from traditional methods like open tenders. The San Tin Technopole, a crucial part of the Northern Metropolis focused on innovation and technology, is expected to utilize this direct land grant approach. Additionally, the government plans to sell large land parcels under a pilot scheme in Hung Shui Kiu, Fanling North, and San Tin, further diversifying the land allocation strategies for the megaproject.
via SCMP Full Text Feed
Hong Kong's finance chief announced a shift in land allocation for the Northern Metropolis, prioritizing companies with cutting-edge technology and job creation potential through direct land grants. This new approach aims to accelerate the development of the 30,000-hectare area in the New Territories into a major economic and housing hub.
Financial Secretary Paul Chan Mo-po emphasized that this process would differ from traditional methods like open tenders. The San Tin Technopole, a crucial part of the Northern Metropolis focused on innovation and technology, is expected to utilize this direct land grant approach. Additionally, the government plans to sell large land parcels under a pilot scheme in Hung Shui Kiu, Fanling North, and San Tin, further diversifying the land allocation strategies for the megaproject.
via SCMP Full Text Feed
