Six-Company Consortium Wins Hung Shui Kiu Area Project with HK$10.3B Bid, HK$168B Investment
RTHK · 12 SOURCES19 minutes ago3 MIN
Summary
The Hong Kong government has awarded its first Northern Metropolis area development project to a six-company consortium led by China Overseas Development, China Merchants Land, China Resources Land, China Tourism Group, JD.com, and Sun Hung Kai Properties, with a winning bid of HK$10.3 billion. The consortium estimates total project investment of approximately HK$168 billion, creating over 6,000 jobs and developing 3,000 residential units alongside a smart logistics centre. Sun Hung Kai Properties Chairman Eddie Wong Wing-kong called the successful tender a vote of confidence in Hong Kong's future, aligned with national development strategies.
Key Points
- The winning consortium, HSK New Development Limited, submitted a winning price of HK$1.03 billion for the Hung Shui Kiu/Ha Tsuen New Development Area project, beating Henderson Land Development as the sole other bidder .
- The project covers approximately 11 hectares and will develop three residential plots capable of providing about 3,000 units, assuming an average unit size of 50 square metres (approximately 538 square feet) .
- The consortium will build a smart modern logistics centre on a 50,950-square-metre "Enterprise and Technology Park" site, with JD.com as the anchor tenant commencing operations within 55 months, well ahead of the minimum 96-month requirement .
- JD Logistics will deploy its proprietary "Wolf Series" robotic technology including "Smart Wolf" goods-to-person systems, "Different Wolf" robotic arms, and "Lone Wolf" autonomous vehicles—marking Hong Kong's first application of such advanced logistics automation .
- A flexible land premium payment arrangement allows the developer to pay 25% within 28 days and the remaining 75% within three years interest-free .
- The government will directly allocate two 4.5-hectare Enterprise and Technology Park lots (Lots 23 and 24) to the government-owned Hung Shui Kiu Industrial Park Company at nominal cost, expanding its land area from 23 to 27.5 hectares .
Why It Matters
The successful tender signals strong market confidence in the Northern Metropolis initiative, with the consortium's diverse enterprise composition demonstrating how the area development model can attract both experienced property developers and technology industry leaders to jointly drive Northern Metropolis growth . Development Secretary Lo Wai-kwok emphasised that six enterprises joining forces constitutes a vote of confidence in the Northern Metropolis and opens a new chapter for diversified development in the region .
The successful tender signals strong market confidence in the Northern Metropolis initiative, with the consortium's diverse enterprise composition demonstrating how the area development model can attract both experienced property developers and technology industry leaders to jointly drive Northern Metropolis growth . Development Secretary Lo Wai-kwok emphasised that six enterprises joining forces constitutes a vote of confidence in the Northern Metropolis and opens a new chapter for diversified development in the region .