Chief Executive John Lee on Tuesday said he believes the Northern Metropolis project will bring a good return on investment and the public will be able to share the fruits of the development. Last week, more than 80 enterprises and developers signed an expression of interest for the development, along with separate agreements for projects worth some HK$100 billion. "We are very confident that the Northern Metropolis development plan will invite and attract a lot of interest," Lee told reporters before heading into the weekly Executive Council meeting. "We will be also developing the San Tin Technopole. There will also be a university city and different pockets of land, and all these will add together to create extra value for Hong Kong. All these projects will bring a good return on investment." Asked whether there will be penalties for enterprises that sign agreements but don't invest, Lee said he believes these investments will pay off well in the long run. "Of course, we have to look very far ahead in the future. Some investment periods may be as long as five to 15 years," he said. The CE added that he hopes to find innovative ways to ensure regular citizens also benefit from these investments.
