Consortium Wins Northern Metropolis Project with HK$1.03 Billion Bid
SCMP · 1 SOURCESabout 2 hours ago2 MIN
Summary
The Development Bureau announced on Monday that a six-company consortium, HSK New Development Limited, secured the tender for the 10.5-hectare project in Hung Shui Kiu with a HK$1.03 billion bid (US$132 million) . The winning group comprises China Merchants Land, China Resources Land (Overseas), China Overseas Land & Investment, a Sino Land subsidiary, CTG Investment, and mainland e-commerce giant JD.com . The total investment for the development is projected to reach HK$16.8 billion, marking the first large-scale land disposal under the Northern Metropolis initiative .
Key Points
- The consortium achieved a perfect score of 100 marks under a two-envelope tendering system that weighted land premium at 30% and non-price factors at 70%
- Non-price evaluation criteria included proposals for technology park development, strategic industry attraction, investment plans, and job creation
- The project is located in a designated future high-end professional services and logistics centre within the Northern Metropolis
- Development Secretary Bernadette Linn Hon-ho highlighted the consortium's combined expertise spanning decades of local real estate experience and industry leadership
- Henderson Land Development submitted the only competing bid as a stand-alone developer, losing to the six-company consortium
Why It Matters
The successful tender signals strong corporate confidence in Hong Kong's largest infrastructure undertaking, where 30,000 hectares near the mainland border will be transformed into an economic powerhouse and housing hub . By bringing together real estate developers and e-commerce expertise, the project demonstrates how the Northern Metropolis aims to diversify beyond traditional residential development toward technology-driven commercial growth.
The successful tender signals strong corporate confidence in Hong Kong's largest infrastructure undertaking, where 30,000 hectares near the mainland border will be transformed into an economic powerhouse and housing hub . By bringing together real estate developers and e-commerce expertise, the project demonstrates how the Northern Metropolis aims to diversify beyond traditional residential development toward technology-driven commercial growth.