CE Proposes Northern Metropolis In Policy Address

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-10-06 HKT 12:42

Share this story

facebook

  • CE proposes Northern Metropolis in policy address

Chief Executive Carrie Lam has proposed developing a metropolis in northern New Territories in her policy address on Wednesday to provide more land for housing and business development.

With an area of some 300 square kilometres, the proposed Northern Metropolis covers Yuen Long and North District. It encompasses current towns such as Tin Shui Wai and Fanling and neighbouring rural areas, as well as new development areas under planning or construction such as Kwu Tung North/Fanling North and San Tin/Lok Ma Chau.

She said the Northern Metropolis will be developed into an international IT hub.

"Proposed individual development projects together with the surrounding rural and conservation areas will be integrated in an innovative and organic manner conducive to upgrading the entire region to a metropolitan area," the chief executive said.

Lam also stressed the need for conservation. She said the ecological functions of around 2,000 hectares of conservation area, including the Mai Po Inner Deep Bay Ramsar Site, will be enhanced.

The chief executive said an additional 600 hectares of land could be developed in the new metropolis to provide up to 186,000 new residential units. In all, the region could offer up to 926,000 homes and be home to 2.5 million people in future.

And the number of jobs in the area will rise from 116,000 right now to 650,000.

"With as many as seven land‑based boundary control points, the Northern Metropolis will be the most important area in Hong Kong that facilitates our development integration with Shenzhen and connection with the Greater Bay Area," she said.

RECENT NEWS

ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education

ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more

Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets

The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more

Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation

Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more

MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending

MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more

Why The $2 Trillion Stablecoin Prediction Is Too Low

McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more

RedotPay Eyes US IPO With Potential US$1 Billion Raise

RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more