Advancement Bureau reveals newest plans for 2 market websites in Yuen Long and Hung Shui Kiu
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The Development Bureau (DEVB) revealed today (July 21) that in order to reinforce the Government’s leading function and speed up the anchoring of markets in the Northern Metropolis (NM), the Government has actually chosen to cancel the tender for 2 websites in Yuen Long and Hung Shui Kiu. This assists in effective execution of more practical plans for the 2 market websites, that include:
- Turning over the website at Yuen Long Fuk Wang Street and Wang Lee Street (i.e. Yuen Long Town Lot No. 545) (the Yuen Long Lot) to the Hong Kong Science and Technology Parks Corporation (HKSTPC), with a view to developing a microelectronics environment in the Yuen Long InnoPark and much better promoting high value-added brand-new industrialisation; and
- Including the website at Area 39A and 39B, Hung Shui Kiu and Ha Tsuen (i.e. Hung Shui Kiu Town Lot No. 10) (the Hung Shui Kiu Lot) in a policy research study to be finished by the DEVB within this year, which includes a bigger location of land. The objective is for a business developed by the Government to use up the management and operation for the market websites because location in the type of a market park.
The DEVB introduced tenders under the two-envelope technique for the Yuen Long Lot and the Hung Shui Kiu Lot in March and October 2024 respectively for the advancement of multi-storey structures for modern-day markets (MSBs). Part of the flooring area of the MSBs was to be rented to the Government at small lease for 10 years, enabling the Government to additional lease the flooring area at concessionary leas to brownfield operators impacted by federal government advancement tasks throughout the duration. The tender invite for the 2 websites was initially to close on July 25, 2025.
A representative for the DEVB stated, “In order to lead and effectively promote the development of industries in the NM, the Government has to allow flexibility in the use of land in the NM and adopt a ‘dynamic planning’ approach in formulating strategies in accordance with the actual circumstances, thereby accelerating enterprise anchoring and fostering development of the area. Taking into account the views of the innovation and technology sector and the logistics sector on the industry development strategy in the area, as well as the Government’s planning strategy for the NM, the Government has decided to cancel the tender for the two sites and proactively utilise the sites according to the Government’s development strategy. This would allow the greater play of the sites in promoting industry development.”
The 3-hectare Yuen Long Lot is located within the area of the Yuen Long InnoPark and the Microelectronics Centre therein. The Yuen Long InnoPark is run and handled by the HKSTPC. To cater for the HKSTPC’s strategy to develop a dynamic microelectronics environment within the Yuen Long InnoPark, the Government has actually taken the chance to transform the Yuen Long Lot to development and innovation usage. The Innovation, Technology and Industry Bureau will even more go over with the HKSTPC to prepare a concrete advancement proposition.
On the other hand, as revealed in the 2024 Policy Address, the DEVB has actually been checking out the facility of a business led by the Government to develop and run a commercial park, including a few of the logistics websites in Hung Shui Kiu. The research study will cover around 15 hectares of market websites positioned in the northern part of Hung Shui Kiu, and the 8-hectare Hung Shui Kiu Lot is precisely nearby to this 15-hectare location of market land. Integrating the Hung Shui Kiu Lot in the research study will enhance the market park business with more adequate land resources to attain economies of scale in the future. The research study will check out the method for approving such market websites to the proposed business to be developed by the Government, which will be accountable for structure and running the market park in accordance with the Government’s market policies, along with bring in business through versatile land grant plan and financial investment promo steps. We will likewise check out the choice of having the business to designate part of the land within the market park for establishing commercial areas utilizing affordable innovations (such as modular building and construction) within a brief time period to accommodate a few of the brownfield operators impacted by federal government advancement jobs. The DEVB will finish the research study within this year and consequently begin the work for the facility of the business.
The areas of the 2 websites are displayed in the Annex.