Hung Shui Kiu pilot area up for tender

The Hung Shui Kiu pilot area will begin the tender process on Tuesday, including three private housing sites and three enterprise and technology park sites, with an area of around 11 hectares, according to Secretary for Development Bernadette Linn Hon-ho.

It's expected to provide 3,100 homes, with a gross industrial floor area of 280,000 square meters.

The tender will adopt the "two-envelope" approach, with 70 percent weighting assigned to the non-premium proposal in relation to the development of industries and the 30 percent allocated to the land premium offer.

Given its large scale, the government will offer a flexible land premium payment arrangement for the tender. From the announcement of the tender result, the successful bidder can pay at least 25 percent of the land premium within 28 days, while the remaining balance of up to 75 percent can be settled in the next three years, with free interest.

Bidders who select the installment plan are also allowed to offset up to 75 percent of the land premium by surrendering government land targeted for resumption in the Northern Metropolis.

The two payment arrangements are part of removing barriers and restrictions measures of the 2025 Policy Address, aiming to ease the companies' cash flow pressure on developing land, thereby encouraging more firms to engage in the development of Northern Metropolis, said Linn.

The tender period will last for six months and end on July 3, 2026.

In addition, the Development Bureau yesterday announced the establishment of the Hung Shui Kiu Industry Park Company Limited, which will be responsible for the development and operation of the around 23-hectare industry park at Hung Shui Kiu.

The open recruitment exercise for its chief executive will start in January 2026, and a series of preparatory work will be completed in mid-2026.