Dedicated Northern Metropolis laws may speed up projects by 1 year, minister says
Development chief Bernadette Linn also says authorities preparing to increase residential component of some sites
Dedicated laws to streamline statutory procedures for Hong Kong’s Northern Metropolis may speed up some projects by about one year, the development chief has said.
Secretary for Development Bernadette Linn Hon-ho also revealed on Sunday that the government was preparing to increase the residential component of some sites to make the investment more appealing for developers.
The government unveiled a plan for proposed legislation earlier this month, comprising six main subsidiary laws designed to remove bottlenecks in the massive development scheme near the border with mainland China.
They include establishing statutory firms and measures to speed up land resumption payments and adopt new building technologies.
“Some individual projects [within the Northern Metropolis] could be fast-tracked by one year,” Linn told a television programme.
“If the statutory processes remain unchanged, how can the megaproject be sped up?”
The megaproject, announced in 2021, aims to turn 30,000 hectares (74,132 acres) of land into an engine for economic growth and a housing hub. Chief Executive John Lee Ka-chiu has vowed to expedite its development, aligning with the nation’s recently unveiled 15th five-year plan.