Wheelock Properties Plans Kwu Tung Launch as Northern Metropolis Hub Takes Shape
SingTao · 1 SOURCESabout 3 hours ago5 MIN
Summary
Wheelock Properties (會德豐地產) is positioning itself to launch PARK SILICON Phase 1 as a completed project next year, coinciding with the anticipated opening of the MTR Kwu Tung Station by end-2027. Vice Chairman and Managing Director Wong Kwong-yiu (黃光耀) forecasts that Kwu Tung North will emerge as the "Northern Metropolis New Central" district, propelled by innovation-technology and education dual engines. The project's Phase 2 PALO SPRINGS recently set price benchmarks with terrace units fetching up to 23,604 yuan per square foot, reflecting strong demand from affluent buyers.
Key Points
- Kwu Tung North received the highest government allocation among Northern Metropolis developments, with combined government complex construction exceeding HK$10 billion
- Nine policy bureaux and departments including Architecture Services Department and Lands Department will relocate to the integrated complex, creating strong residential demand
- PALO SPRINGS sold 56 units in its first-round launch, attracting local families, upgraders, and cross-border professionals
- Wheelock Properties sold approximately 2,190 units worth HK$26.2 billion in first eight months of 2026, up 103% year-on-year
- Wong projects full-year property price appreciation of 10% for 2026, with 1,500 primary transactions expected between September and November
Why It Matters
The development of Kwu Tung North exemplifies Hong Kong's broader Northern Metropolis strategy to create a new economic corridor. With government departments, technology enterprises, and educational institutions converging, the area is poised to accommodate approximately 2.5 million residents and generate 650,000 jobs, fundamentally reshaping Hong Kong's spatial layout and economic structure .
The development of Kwu Tung North exemplifies Hong Kong's broader Northern Metropolis strategy to create a new economic corridor. With government departments, technology enterprises, and educational institutions converging, the area is poised to accommodate approximately 2.5 million residents and generate 650,000 jobs, fundamentally reshaping Hong Kong's spatial layout and economic structure .