The government says it will start accepting tenders for three pilot development areas in the Northern Metropolis as soon as the second half of next year, and the projects could be completed in a decade or so. The plots, in Hung Shui Kiu, Fanling North and San Tin, range from 12.5 to 18.6 hectares in size. Each will have its own residential, industrial and public facilities. Hung Shui Kiu has been earmarked as a "high-end professional services and logistics hub". A Technopole is planned in San Tin, while Fanling North is mainly designed to provide housing. The Development Bureau said baseline scenarios it set for the three sites have been deemed as financially viable by a consultant. A bureau spokesperson said developers will be asked to largely adhere to the scenarios in regards to development. But officials will also listen to feedback for potential adjustments, before the projects are put up for tender. Developers will have to carry out site formation as well as engineering infrastructure works, such as building roads and drainage. They'll have exclusive rights to residential blocks within the development site. The spokesperson said the three sites will provide some 630,000 square metres of residential gross floor area. "The large parcel development mode is a new concept in Hong Kong, but it's been widely adopted on the mainland. So we look forward to attracting not just local developers, but also those from the mainland," the spokesperson said, later adding that overseas firms are also welcome. The person pointed to existing mechanisms assessing whether participating developers are financially robust. In the event they run into capital trouble, there will be safeguards to ensure delivery of the projects.
