The government has aborted the tenders for two industrial sites in the Northern Metropolis, putting an end to the year-long sales process that started as early as March 2024.
The sites on Fuk Wang Street and Wang Lee Street in Yuen Long and Hung Shui Kiu Town Lot No 10 were put up for tender via the so-called “two-envelope system” in March and October 2024, respectively.
The deadlines of both tenders were later extended to this Friday, more than one year after the Yuen Long site's tender kicked off.
The Development Bureau said in a statement on Monday that the abortion was to strengthen the government's leadership role and accelerate industrial deployment in the area.
A spokesperson said effective leadership in the Northern Metropolis' industrial growth requires flexible and dynamic use of land resources based on actual conditions, and that the agile planning approach aims to accelerate enterprise entry and stimulate broader regional development.
After considering industry feedback from the innovation and technology and the logistics sectors, along with the government's own development strategy, the bureau decided to reallocate the sites for faster and more impactful use, the statement said.
Specifically, the Yuen Long site will be handed over to Hong Kong Science and Technology Parks Corporation to establish a microelectronics ecosystem at the Yuen Long InnoPark, supporting new industrialization with high added value.
The Hung Shui Kiu site will be incorporated into an upcoming policy study to be completed within the year. The goal is for a government-owned company to manage and operate the area as an industrial park, the bureau said.
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