(Budget 2023-24) New office to co-ordinate matters of Northern Metropolis; Kau Yi Chau to support development of CBD3

Hong Kong is now preparing for the establishment of a Northern Metropolis Co-ordination Office to take forward work related to the area's development, said financial minister Paul Chan Mo-po as he delivered the 2023-24 Budget Wednesday. 

He added that the SAR government and relevant mainland authorities have set up a task force to strengthen communication and collaboration on relevant matters already. 

Chan also noted that the Northern Metropolis serves as a new engine and an important base for promoting the development of I&T industries, supporting Hong Kong in establishing a new industry pattern of "South-North dual engine (finance-innovation and technology)". 

He continued that more land resources will be released to provide more quality living space to the public. 

The city will also press ahead with projects already under construction in the Northern Metropolis, such as those in the New Development Areas in Kwu Tung North/Fanling North, Hung Shui Kiu/Ha Tsuen and Yuen Long South; and take forward the planning and engineering studies of other development projects at the same time. 

Chan said authorities will start off by commencing consultation in the second quarter on the development proposals and land use planning of San Tin Technopole, the flagship I&T project in the region covering 150 hectares of new land for I&T uses. 

Meanwhile, the first three buildings of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop will be gradually completed from end-2024 onwards. 

The site formation works of the first batch of new land for I&T uses at San Tin Technopole will commence in the same year as well, according to Chan. The additional space made available will facilitate the recruitment of Mainland and overseas I&T enterprises to establish a presence in Hong Kong. 

As for the1,000-hectare Kau Yi Chau Artificial Islands built by reclamation, Chan said it can support the development of the third central business district by providing around four million square meters of commercial gross floor area and about 200,000 jobs. 

The government has put forth preliminary proposals on the scope of reclamation, land use, and transport infrastructure network, and has commenced public engagement activities. 

Upon finalization of a more detailed planning and design concept, the government will contemplate appropriate financial arrangements, examine various financing options, and explore the optimal package with the community.