(HONG KONG) Chief Executive John Lee’s 2025 Policy Address positions the Northern Metropolis as a strategic development priority, unveiling a comprehensive framework aimed at accelerating urban growth, infrastructure, and investment opportunities. Here's what professionals in the building and real estate sectors need to know:

Governance & Strategic Oversight

• New Committee on Development of the Northern Metropolis chaired by the Chief Executive.
• Three specialized working groups to streamline planning, construction, and operational models:
• Development & Operation Models (led by Financial Secretary): Focus on industrial parks, PPP models, and innovative financing (e.g., land as capital).
• University Town Planning (led by Chief Secretary): Integration of academia and industry; site rollout begins in 2026.
• Planning & Development Execution (led by Deputy Financial Secretary): End-to-end project supervision and coordination.

Construction & Infrastructure Acceleration
Fast Track Processing System to adopt advanced construction technologies and materials from Mainland and overseas.

Phased Development Approach: 
Initial rollout of low-density commercial facilities (retail, entertainment, exhibitions) to attract early investment.

Transport Infrastructure:
- Kwu Tung Station (2027) and Hung Shui Kiu Station (2030) under construction.
- Northern Link Spur Line and Main Line to be commissioned by 2034 or earlier.

Land Use & Real Estate Opportunities
Au Tau Land Use Review: Potential for increased private housing near Sha Po and Au Tau Station.

Flexible Land Grant Arrangements:
- Voluntary land surrender to offset costs for land exchange or disposal.
- “Pay for what you build” model to reduce land premium costs.

Legislative Support:
- Statutory industry park entities with dedicated funding channels.
- Simplified procedures for zoning, plan approvals, and land resumption compensation.

University Town Development
Sites at Hung Shui Kiu (2026), Ngau Tam Mei (2028), and New Territories North New Town (2030).
Goal: Attract top-tier universities and research institutes from Mainland and abroad.
Deep integration of academic and industrial sectors to foster innovation hubs.

Implications for Industry Professionals
- Streamlined approvals and flexible land policies create a more agile development environment.
- Public-private partnerships and new financing models open doors for diversified investment.
- Transport and academic infrastructure will drive long-term demand for residential, commercial, and mixed-use developments.

This initiative signals a bold transformation of Hong Kong’s northern frontier—ripe with opportunities for developers, investors, planners, and construction firms ready to engage with a future-forward urban vision.

(Reported by Building.hk)

(HKSARG)