Hong Kong will need “about 20 years or more” to finish a project ensuring housing for up to 484,000 people and the creation of a hub for emerging industries.
In a Legislative Council paper, the Development Bureau said the creation of the “New Territories North New Town”, the largest project under the Northern Metropolis scheme, would involve a total development area of about 1,175 hectares (2,900 acres).
The figure accounts for more than a third of the new land supply set aside for the megaproject, which focuses on areas along the border with mainland China.
The Northern Metropolis is divided into several projects and aims to transform 30,000 hectares of land in the New Territories into an economic powerhouse and housing hub.
The New Town project covers land in Heung Yuen Wai, Ta Kwu Ling, Ping Che, Hung Lung Hang, Queen’s Hill, Man Kam To and Lo Wu South. According to the paper, the project will act as a hub for emerging industries and a “gateway economy” for the mainland, in addition to having cultural education and sports hubs, and boasting green spaces such as rivers and valleys.
“The project will take about 20 years or more to implement by phases,” a bureau spokesman said. He added that more than half of the 1,175 hectares was private land.
The bureau suggested prioritising development works in Heung Yuen Wai. Plans for the area include the creation of a commercial and residential space, alongside a park for enterprises focused on cross-border trading to enhance the gateway economy. The project was expected to allocate land for the gateway economy push, including for the commercial, retail and emerging industries, the bureau added.
It said the project’s “University Town” would also seek collaboration opportunities with local industries and economic initiatives, as well as deepening ties with cities in the Greater Bay Area. The entire project could provide about 163,000 to 176,000 flats, accommodating a population of around 449,000 to 484,000, and creating 165,000 job opportunities.
The remaining land set aside for the New Town project, about 960 hectares, would be considered for medium and long-term projects. The initiative would be reviewed based on actual circumstances.
