Plots Of New Technopole May Be Directly Granted: Govt

About half of a planned technopole hoping to be Hong Kong's Silicon Valley will be earmarked for innovation and technology development, the government said on Thursday, with plots of land up for grabs through public tendering or other means.

Plans for the San Tin Technopole were first unveiled in 2021 by then chief executive Carrie Lam as part of the Northern Metropolis development vision.

In a paper submitted to Legco, the Development Bureau said the new hub, which borders Shenzhen, will cover 627 hectares of land.

Some 300 hectares will be used for innovation and technology, providing about 7 million square metres of gross floor area – equivalent to the size of 17 Hong Kong Science Parks.

Besides public tendering, a bureau spokesperson said plots could be offered by means such as restricted tendering or direct land grants.

"If [a corporation] could make the government consider directly granting a plot of land, it must be an outstanding one and could bring about great benefits to Hong Kong," the spokesperson said, adding that its basic principle is to avoid monopoly.

The area is also estimated to provide some 50,000 public and private residential units. Most of them will be within 500 metres of walking distance to the newly planned San Tin MTR station.

About 6,400 flats would be available for corporation staff working in the IT hub.

There will also be public and recreational facilities in the area.

The government said the San Tin Technopole could provide at least 165,000 jobs.

Land formation work will begin in the final quarter of 2024. Officials said they don't have a timetable yet on when businesses will begin operating there, but they expect the first batch of residents to move in from 2031 onwards.