The first district development site in the Hung Shui Kiu/Ha Tsuen area was awarded on 5 September for HK$1.03 billion to a consortium of six companies led by China Overseas. The consortium will also take on at least HK$16.8 billion in investment covering land formation, surrounding transport infrastructure and preliminary industrial-development work.
The arrangement covers three industrial sites. The consortium will develop one, while the other two will be formed and then handed to the Hung Shui Kiu Industrial Park for development. Star Headline reported that the two additional sites together cover about four hectares.
Lam Kin-fung, chairman of the Hung Shui Kiu Industrial Park, said the consortium’s six members came from different sectors and could attract more companies to the area, creating a business-attracting effect. He said some overseas companies had already made enquiries or expressed interest, with some hoping to enter the mainland market through the project.
Lam said the deal should not be judged solely by its HK$1.03 billion land premium, because it was not a traditional land sale but was similar to a public-private partnership. The consortium’s wider responsibilities include preparing land and infrastructure beyond the site it will develop itself.
The two additional sites are expected to be handed over after land formation, with Star Headline reporting 2028 as the target. Lam said he was confident that all the industrial sites in the area could be operating within eight years, although the reports did not give a more specific timetable.