Hong Kong Development Council Secretary Ning Hanhao: In the next five years, Beijing will provide about 70,000 housing units and about 1 million square meters of economic floor space

The Zhitong Finance App learned that on September 8, Hong Kong Development Council Secretary Ning Hanhao said at the Sing Tao Real Estate Development Trends Forum 2026 that after several years of planning and construction, the northern metropolitan area has officially entered the harvest period. Housing projects in the Kwu Tung North/Fanling North New Development Area will be joined one after another starting this year. The Hung Shui Kiu/Ha Tsuen New Development Area will also start supplying industrial land. Currently, companies have settled in Hetao and Shaling.

Ning Hanhao pointed out that the national “15th Five-Year Plan” clearly requires Hong Kong to speed up the construction of the North Capital. At present, four of the nine new development zones in Beidu have entered the construction phase, involving more than 800 hectares of land projects. As of the 2025-26 fiscal year, the government has taken back over 520 hectares of private land and completed the leveling of about 120 hectares of land. Looking ahead to the next five years, Beidu will produce about 900 hectares of mature land, including 300 hectares of industrial land. It is expected to provide about 70,000 housing units and about 1 million square meters of economic floor space.

In terms of industrial development, the Beidu Plan covers a diverse layout: Xintian Science and Technology City, Hetao Hong Kong Park, Lau Fau Shan Digital Technology Hub and Shaling Data Park together plan over 340 hectares of I&T land to create a cross-border innovation and technology corridor; Hung Shui Kiu/Xiamen Village provides at least 60 hectares of industrial land, of which about 27.5 hectares are built and operated by Hung Shui Kiu Industrial Park Company; and three additional university cities promote “industry-university-research” integration; while Tsim Bei Tsui, Pak Ni and Sha Tau Kok develop ecotourism and recreation tourism circles.

Ning Hanhao stressed that the Development Bureau is using a number of innovative policy arrangements to push forward the construction of Beidu at full speed, including enacting exclusive laws for Beidu, introducing a “district development” model, convenient measures for exchanging the original site, and setting up an industrial park company. Among them, the bill has already entered the review stage one by one and is expected to be passed by the end of this year; the Hung Shui Qiao “Area” recently successfully tendered, and the government also successively set up wholly-owned park companies for the Hung Shui Qiao Industrial Park and Xintian Science and Technology City this year to speed up land development, infrastructure, and industry introduction.