Enterprise representatives said on Friday they are confident about the development of the Northern Metropolis.

A total of 85 companies were present at a signing ceremony for enterprise participation, including developers such as Sun Hung Kai Properties, Swire Properties and China Resources Land.

They signed an expression of interest regarding the Northern Metropolis development, along with separate agreements for various projects worth some HK$100 billion.

Speaking to reporters after the ceremony, Bank of China's Deputy Chief Executive Wang Huabin said the Northern Metropolis' planning compliments Hong Kong's positioning as an international finance, aviation, trading and innovative hub.

"We believe the Northern Metropolis will act as a new force to drive Hong Kong's development in the future. Our corporation highly values the building and development of the Northern Metropolis," he said.

"As early as 2022 when the metropolis plan was first suggested, we had already formulated and announced that we will establish a comprehensive financial services plan for the area," he added.

Wang said the bank will strengthen its efforts to attract more investors to the area to complement the Hong Kong government's plan, by providing financial services to companies that invest in the Northern Metropolis.

The bank signed a cooperation agreement with nine corporations, with one agreement worth more than HK$20 billion.

Also present at the signing ceremony was Daryl Ng, deputy chairman of real estate corporation Sino Group. He said the group will support the development of the Northern Metropolis.

"From the government's plan, we see there will be a third medical school in the Northern Metropolis. We also see it involves a lot of innovative technology projects and the building of a university city. I think the potential of the Northern Metropolis is very high and our group is confident in the development of the region," he said.