Advertisement
Hong Kong property
Business

Investors need more details on Hong Kong’s mega San Tin technology-park project in Northern Metropolis, Colliers says

  • Investors are still in the dark about the ambitious 627-hectare San Tin Technopole project in the northern New Territories, consultancy says
  • Without solid plans, investors are wary of taking first steps even though they are generally supportive of the massive project, Colliers executive says

Reading Time:2 minutes
Why you can trust SCMP
2
Aerial view of San Tin area at North New Territories. Photo: SCMP / Winson Wong
Cheryl ArcibalandJulia Zhong

Property consultancy Colliers has said investors are still largely in the dark about the potential opportunities on offer at the ambitious 627-hectare San Tin Technopole project in the northern New Territories.

Advertisement
Proposed as the flagship project for the massive Northern Metropolis development, the site has been touted by the Hong Kong government as an innovation and technology hub that will drive growth in the city and foster closer integration with the Greater Bay Area.
The 300-hectare project, which officials have said may take 10 to 15 years to come to fruition, involves developing buildings and facilities with a projected gross floor area of 70 million sq ft, creating 120,000 jobs and providing housing for 6,400 professionals.
Vic Yau Cheuk-hang took up the post of Director, Northern Metropolis Co-ordination Office on June 12, 2023. Photo; Handout
Vic Yau Cheuk-hang took up the post of Director, Northern Metropolis Co-ordination Office on June 12, 2023. Photo; Handout

Given these staggering numbers – the total land area alone is equivalent to the combined size of Sheung Wan, Central, Admiralty and Wan Chai – the development presents huge opportunity to developers and investors, but details are still lacking, according to Thomas Chak, co-head of capital markets and investment services at Colliers Hong Kong.

“Investors would like to see solid plans so that they can actually do the underwriting model,” Colliers’ Chak said on Wednesday. “Without these solid schemes, it will be difficult for investors to even start calculating, even though they like the initiative, they like the direction and they would like to get involved.”

“I’m sure a lot of investment opportunities will arise, but at this very moment, it is difficult for investors to take the first step.”

The project’s success hinges on the development of a complete ecosystem that will support the needs of technology firms expected to make their base there, including housing and facilities for employees and residents that will occupy the flats, according to Chak.

Advertisement