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Hong Kong’s first Northern Metropolis pilot project draws only two bids

Henderson Land the sole stand-alone bidder as Sino Land joins JD.com and mainland developers in a consortium for the Hung Shui Kiu project

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An aerial view of Hung Shui Kiu new development area of Hong Kong’s Northern Metropolis on March 26. Photo: Elson Li
Peggy Ye

Only two bids were submitted on Friday for Hong Kong’s Northern Metropolis pilot project, with Henderson Land Development and Sino Land joining five partners in a consortium including JD.com and four mainland state-backed developers.

The Development Bureau said it had received two bids by the tender’s noon deadline for the flagship Hung Shui Kiu project, making Henderson Land and Sino Land the only Hong Kong developers to participate in the government’s first large-scale land sale under a new model designed to combine property development with the development of an innovation and technology hub.

An official with the Development Bureau said the Tender Assessment Committee would “immediately begin assessing the bids”, with the aim to award the tender by the end of August.

Meanwhile, a Henderson Land spokesman said the group would continue to support the government’s long-term development strategy.

In a joint statement, the six-company consortium said it comprises China Merchants Land, China Resources Land (Overseas), China Overseas Land & Investment, Sino Land, CTG Investment and Chinese e-commerce company JD.com. The group said it was optimistic about the Northern Metropolis’ long-term development.

Other major developers, including Sun Hung Kai Properties, New World Development and CK Asset Holdings, did not participate in the bid.

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