Hung Shui Kiu Pilot Project Set to Create Over 6,000 Jobs
Thestandard · 1 SOURCESabout 2 hours ago2 MIN
Summary
The government has awarded a site in the Hung Shui Kiu/Ha Tsuen New Development Area to a consortium led by HSK New Development Ltd for HK$1.03 billion, with the project expected to generate over 6,000 jobs. Financial Secretary Paul Chan Mo-po described the initiative as a milestone for the new public-private partnership model in the Northern Metropolis development. The winning consortium plans to invest approximately HK$16.8 billion in the entire project.
Key Points
- HSK New Development Ltd, a consortium comprising six companies, won the tender with a bid of HK$1.03 billion for the Hung Shui Kiu/Ha Tsuen site
- The consortium will invest approximately HK$16.8 billion in the entire project, creating over 6,000 jobs spanning construction, logistics operations, and commercial management
- Under the new public-private partnership model, the developer must build public facilities and open spaces while returning portions of land to the government
- Financial Secretary Paul Chan Mo-po stated the model leverages private-sector resources, expertise, and market acumen to accelerate project progress
- The Northern Metropolis Financial Advisory Taskforce was established in April to explore tailored financing arrangements for various projects
Why It Matters
This successful tender establishes a viable framework for future large-scale land disposals in the Northern Metropolis, as the government plans to roll out additional tenders at appropriate times while maintaining close communication with the market . The project demonstrates how public-private partnerships can reduce government spending while delivering infrastructure and creating employment opportunities in Hong Kong's strategic development zones.
This successful tender establishes a viable framework for future large-scale land disposals in the Northern Metropolis, as the government plans to roll out additional tenders at appropriate times while maintaining close communication with the market . The project demonstrates how public-private partnerships can reduce government spending while delivering infrastructure and creating employment opportunities in Hong Kong's strategic development zones.