Various forms of public-private partnership will be considered. When granting land for I&T uses in the area, land disposal methods other than open tendering may be considered taking into account the industry-specific policy of ITIB. On current planning, the first batch of unformed I&T land is expected to be available in Q4 2024 for works to start and becomes formed sites in 2026. The Government may also consider allowing the prospective enterprises to carry out site formation works.
The 2023 Policy Address has announced that the “Enhanced Conventional New Town Approach” will be extended to development sites specified by the Government in all New Development Areas (NDAs) in the Northern Metropolis, including San Tin Technopole. Under this development approach, the Government will in principle resume all private land planned for development, before allocation for various purposes including disposal of land for private development. However, for sites planned for private development, the Government allows in-situ land exchange applications from land owners subject to certain conditions. The Government will issue Practice Notes applicable to individual NDAs in due course to announce the detailed land exchange arrangements, including the sites available for in-situ land exchange, application criteria and conditions, as well as application deadlines, etc. For the general arrangement of land exchange under ECNTA, you may refer to the Press Release at https://www.info.gov.hk/gia/general/202312/28/P2023122800410.htm and the Practice Note No. 13/2023 at https://www.landsd.gov.hk/en/resources/practice-notes/lao.html.
On the premise of maintaining government-led development and safeguarding the interests of affected households, the revised arrangements could expedite the implementation of the Northern Metropolis and facilitate better development layouts by leveraging market forces. Apart from allowing land owners’ in-depth participation in development in a manner that complies with the Government’s planning, enhances the speed of implementing the Northern Metropolis and facilitates better development layouts, the revised arrangements will also reduce the Government’s upfront spending on land resumption and public works while allowing the Government to receive premium revenue earlier. The early provision of housing, industries and other development as well as public facilities will also benefit the public.