Development chief dismisses fears Northern Metropolis supply will hit office sector
Incoming supply in the megaproject is primarily for the I&T sector, Bernadette Linn tells lawmakers
Secretary for Development Bernadette Linn Hon-ho told the Legislative Council on Thursday that the 1 million square metres (10.8 million square feet) of economic floor space to be provided in the megaproject next to the Shenzhen border over the next five years was unrelated to traditional office supply.
She was responding to a question from real estate and construction sector lawmaker Augustine Wong Ho-ming, who voiced concern during a debate on the city’s first five-year plan and annual policy address that the additional commercial floor space could aggravate already high office vacancy rates in non-prime locations.
