Eager to speed up the development of the Northern Metropolis, government takes into consideration market conditions, according to a source
The price of the two involved sites, located in southern Yuen Long, was between HK$1,500 and HK$1,600 per square foot after the government – eager to speed up the development of the Northern Metropolis – took into consideration market conditions, according to a source close to the matter. The source was not specific about an amount, but it was estimated to be more than HK$2 billion (US$254.8 million).
In December 2023, China Resources Land agreed to invest in a plot of land owned by NWD as part of a HK$10 billion venture between the Hong Kong developer and state-controlled mainland conglomerate China Resources Group.
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