TECH PARK DEVELOPMENT EXPEDITED

Outlining the industries and spatial distribution of the Northern Metropolis, Financial Secretary Paul Chan said in the 2025-26 Budget that the four major trades there include information and technology (I&T); high-end professional services and modern logistics; tertiary education; and culture, sports and tourism.

As for the Northern Metropolis’ development approach, Mr Chan said the Government is piloting a “large-scale land disposal”.

“We are inviting the market to submit expressions of interest for three pilot areas under ‘large-scale land disposal’, with the target of commencing tendering progressively from the second half of this year.”

The Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone, a highlight of the Northern Metropolis, will have its Hong Kong Park entering into the operation phase in 2025, Mr Chan noted.

Specifically, the first three buildings of Phase 1 are about to be completed, and the first batch of tenants from life and health technology, artificial intelligence, data science and other pillar industries will begin to move in this year.

In this connection, the finance chief announced that the Government has earmarked $3.7 billion to expedite the provision of infrastructure and public facilities of the Phase 1 development of the Hong Kong Park. Moreover, the Government will identify suitable land parcels for invitation of private development proposals this year, with a view to expediting the development by leveraging market forces.

“Upon completion of the whole Hong Kong Park, its annual contribution to Hong Kong’s economy is expected to reach $52 billion, and about 52,000 job opportunities will be created.”

Mr Chan remarked that the Hong Kong Park of the Hetao co-operation zone, together with San Tin Technopole, will provide large tracts of I&T land. In the San Tin Technopole, 20 hectares of land will be delivered in phases, starting from 2026-27, for development and operation by the Hong Kong Science & Technology Parks Corporation. The corporation is carrying out a master planning study, which is expected to be completed in the third quarter of this year.

In addition, the Government has commenced the procedures to re-zone a 10-hectare site at Sandy Ridge in the North District for use as data centres. The re-zoning procedures are expected to finish in mid-2025, and the Government is actively making preparations for land disposal.

The Budget also mentioned that there will be considerable output in residential units and industrial land in the Northern Metropolis over the next few years.

Recalling that the Government has started  three major projects on second phase development for the Hung Shui Kiu/Ha Tsuen New Development Area, the remaining phase development of Kwu Tung North/Fanling North New Development Area, and the site formation and engineering infrastructure works for the first batch of land in the San Tin Technopole, Mr Chan further updated the land development progress in the Northern Metropolis in this year’s Budget.

“This year, we will start the works of Yuen Long South New Development Area second phase development, complete the re-zoning procedures for a data park site in Sandy Ridge, and finalise land use proposals for Ngau Tam Mei as well as New Territories North New Town and Ma Tso Lung this year for commencing the environmental impact assessments and other statutory procedures.”

The Government will also identify suitable sites in the Northern Metropolis for constructing facilities to meet conference and exhibition needs.

As regards railway development in relation to the Northern Metropolis, the finance chief said the construction works of Phase 1 of the Northern Link, ie Kwu Tung Station, have begun for target completion in 2027.

Meanwhile, the advance works for Phase 2 have also commenced, in order to tie in with the Northern Link Main Line’s target completion in 2034.

Mr Chan stated that Hong Kong is also working with the Shenzhen authorities to take forward two cross boundary railway projects.

“The investigation and design study of the Hong Kong Shenzhen Western Rail Link (Hung Shui Kiu – Qianhai) project and the detailed planning and design of the Northern Link Spur Line are expected to commence this year,” he added.

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