The government has awarded the first tender for a major land parcel in the Northern Metropolis.

The Development Bureau announced on Monday that the site, located in the Hung Shui Kiu/Ha Tsuen New Development Area, goes to HSK New Development Limited with a bid price of HK$1.03 billion.

The winning consortium comprises six shareholders: China Overseas Land and Investment, China Merchants Land, China Resources Land, China Travel Service, JD.com and a subsidiary of Sino Land.

The project, featuring nearly 11 hectares, is the first "large-scale land disposal" under the Northern Metropolis.

Secretary for Development Bernadette Linn said the consortium brings together major property developers and industry leaders from other sectors.

"The six companies have joined forces and cast a vote of confidence in the Northern Metropolis through concrete action, ushering in a promising start for the diversified development model," Linn said.

The winning bidder will be responsible for flattening and developing three residential sites that can yield about 3,000 flats, with an average size of 50 square metres each.

It will also build a smart logistics centre on an "Enterprise and Technology Park" site, with a total floor area of 50,950 square metres.

JD.com will be the anchor tenant, with operations starting within 55 months – well ahead of the 96-month minimum requirement in the tender documents.

The three residential sites and one Enterprise and Technology Park site, totalling about 3.6 hectares, will be granted to the consortium on 50-year leases.

The consortium estimates the entire project involves about HK$16.8 billion in investment and will create more than 6,000 jobs. It has chosen to pay the full land premium within 28 days, rather than in instalments.

The government received two bids for the tender exercise which ended in July.


Edited by Edmond Fong