Latest news with #NorthernMetropolis
The Standard
a day ago
- The Standard
Flight attendants, interpreters among 10 jobs most vulnerable to AI replacement: Microsoft study
One North STEAM AI Summer: a catalyst for innovation and community engagement in the Northern Metropolis
The Standard
2 days ago
- The Standard
InvestHK clinches Gold at Marketing Interactive DigiZ Awards
One North STEAM AI Summer: a catalyst for innovation and community engagement in the Northern Metropolis
South China Morning Post
5 days ago
- Business
- South China Morning Post
NWD, China Resources Land to pay reduced premium for Northern Metropolis project
New World Development (NWD) and mainland developer China Resources Land are finalising discussions with the Hong Kong government on a land premium for their Northern Metropolis megaproject, with a proposed price that is cheaper than rates secured in nearby areas recently. The price of the two involved sites, located in southern Yuen Long, was between HK$1,500 and HK$1,600 per square foot after the government – eager to speed up the development of the Northern Metropolis – took into consideration market conditions, according to a source close to the matter. The source was not specific about an amount, but it was estimated to be more than HK$2 billion (US$254.8 million). In December 2023, China Resources Land agreed to invest in a plot of land owned by NWD as part of a HK$10 billion venture between the Hong Kong developer and state-controlled mainland conglomerate China Resources Group. When completed, the project will include 1,800 residential units on a site of nearly 150,000 sq ft and a total buildable gross floor area of about 720,000 sq ft. Construction is scheduled to commence this year, according to the developers. The land premium rate for NWD's site in Yuen Long South is 'reasonable', due to its mature development and convenience in terms of transportation, according to surveyors, adding that the rates of recent land exchanges would become reference points for ones in the future. NWD's shares rose 13 per cent to HK$7.13 at 10.20am on Thursday. In April, a consortium led by Sun Hung Kai Properties (SHKP) and Henderson Land agreed on a land premium rate of HK$1,682 per square foot for its 34B residential site in the Hung Shui Kiu/Ha Tsuen New Development Area, which will have 2,300 residential units after completion, according to the Development Bureau.
South China Morning Post
03-08-2025
- Business
- South China Morning Post
Accelerating Northern Metropolis considered priority by Hongkongers: John Lee
The accelerated development of the Northern Metropolis megaproject through novel approaches is a matter of key community consensus, Hong Kong's leader has said as he rounded up a 1½-month-long public consultation exercise for his annual policy address in September. Chief Executive John Lee Ka-chiu also said on Sunday that government policies had to consider macroeconomic development and local-level livelihood concerns to ensure that residents felt included. 'When formulating policies, we have to care about the details and do better communication with our residents about the aims of these policies so they feel acknowledged and have something to gain,' he said. Lee spoke to the media after concluding his second town hall this year on Sunday morning, where he and his principal officials met about 120 residents at a secondary school in Yuen Long to gauge public views ahead of his next policy address. The first such event was held on Sunday last week and was also attended by about 120 people. Since June, the government has held more than 40 consultation sessions and received over 5,500 submissions online and via a hotline, a 10 per cent increase from the same period last year.
South China Morning Post
28-07-2025
- Business
- South China Morning Post
Will Hong Kong government's more hands-on approach to development pay off?
News that the government has withdrawn tenders for two sites to speed up development of the Northern Metropolis comes as Hong Kong is still celebrating the anniversaries of various economic initiatives from a previous era. There could not be a better illustration of the changes in the city's approach to economic development. On Monday, the Development Bureau announced that it was withdrawing from two sites that had previously been open to private sector bidders. A three-hectare lot in Yuen Long will instead be given to the wholly government-owned Hong Kong Science and Technology Parks Corporation, which already runs an innovation park on adjacent land. The site will be used to build a microelectronics industrial ecosystem. Meanwhile, an eight-hectare site in Hung Shui Kiu will be developed as an industrial estate run by a government-owned company to be established pending a bureau policy study. In both cases, the administration is clearly taking much more of a leadership role and hands-on approach. This contrasts with the philosophy prevailing immediately after the establishment of the Hong Kong Special Administrative Region in 1997. At that time, then financial secretary Donald Tsang Yam-kuen set up a Business and Services Promotion Unit as part of his own office to play a much more proactive role than the laissez-faire approach that had largely applied under British administration. The unit was created to draw up and implement programmes to help businesses – basically, cutting red tape – and to support the development of Hong Kong's service sector. Each programme had its own advisory committee comprising business leaders and academics, with support from relevant government departments. Financial secretary Donald Tsang (left) is helped by his assistants as he shows copies of Hong Kong's 2000-2001 budget to the press on March 7, 2000. Photo: Dustin Shum Tsang encouraged leading members of the private sector to put forward suggestions for strengthening and improving the economy in general as well as the operating environment in specific sectors. The unit would then study how best to improve the situation with the help of external consultants if necessary.
