JD.com boosts Northern Metropolis logistics hub, but hurdles loom: experts

JD.com boosts Northern Metropolis logistics hub, but hurdles loom: experts Mainland Chinese e-commerce giant is part of a consortium that won the first ‘large-scale land disposal’ project in the Northern Metropolis Jeffrey Lam Kin-fung, chairman of the Hung Shui Kiu Industry Park Company – the first government-owned entity established to accelerate development of the Northern Metropolis – said on Tuesday that JD.com’s participation in the project would strengthen investors’ confidence and help attract others to join in. “This is a vote of confidence in Hong Kong’s logistics development with such a big investment,” Lam said. E-commerce giant JD.com is part of a six-company consortium that on Monday won the first “large-scale land disposal” project in the Northern Metropolis for HK$1.03 billion (US$132 million), with total investment projected at HK$16.8 billion. The 10.5-hectare project in Hung Shui Kiu involves the winning bidder collectively developing sizeable land parcels with commercial value and sites earmarked for public facilities. Under the Northern Metropolis scheme, 30,000 hectares (74,132 acres) of land near the border with the mainland will be transformed into an engine for economic growth and a housing hub. The megaproject includes an innovation and technology zone, a commerce and industry zone, a high-end professional services and logistics hub, and an area featuring recreation and conservation elements.