On August 24, a consortium of mainland Chinese-backed companies and a Hong Kong developer won the first major land disposal project in Hong Kong's Northern Metropolis for HK$1.03 billion. On August 26, analysts noted mainland enterprises will share financial risks and align the megaproject with national strategy.
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A consortium of mainland Chinese-backed companies and a subsidiary of a Hong Kong developer has won the first “large-scale land disposal” project in the Northern Metropolis for HK$1.03 billion (US$132 million), with the total investment expected to reach HK$16.8 billion. The Development Bureau announced the results on Monday, awarding the tender for the 10.5-hectare development project in Hung Shu
Mainland Chinese enterprises will play a key role in developing Hong Kong’s Northern Metropolis by sharing financial risks and helping align the megaproject with national strategy, according to real estate and political advisers. Their analysis followed the award of the blueprint’s first pilot area in Hung Shui Kiu to HSK New Development, a consortium led by five mainland giants and local develope