CS Chan Kwok-ki: 19 institutions interested in Hung Shui Kiu Uni Town

Two days after the rollout of three campus sites at the Hung Shui Kiu University Town in the Northern Metropolis, Chief Secretary for Administration Chan Kwok-ki says nearly 20 institutions have expressed interest.

He says the government has earmarked 10 billion dollars in loans, so institutions need not worry too much about whether funding concerns would hamstring development.

As the government turbocharges the development of the Northern Metropolis, the latest Policy Address proposes setting up three university towns in the mega project, which total over 1,000 hectares with the rollout of three disposals in the Hung Shui Kiu University Town for eligible institutions to apply.

Speaking on a radio programme, Chief Secretary for Administration Chan Kwok-ki says 19 tertiary institutions have expressed interest, and the government has earmarked 10 billion dollars in loans to ease any funding crunch among institutions.

Chan says the government may charge a nominal token fee of -- let's say 1,000 dollars -- to let the institutions begin campus construction efforts with loan interests waived in the first few years.

The administration hopes the institutions can pay the loan off gradually over up to twenty years.

He says when granting land, four major conditions will be reviewed -- the institutions' industry-academia-research capabilities, collaboration with domestic and overseas universities and their international edge.

The city's number two official also stresses the University Town is not a real estate project.

Chan says it's impossible at this stage to estimate how many universities would like to apply for the Hung Shui Kiu site but as the first batch of land is limited, local universities are preferred.

Chan also says they hope the first batch of schools will move in next year or around 2028.

As for the other two University Town sites in San Tin and Ta Kwu Ling, applications will open in 2028 and 2030 respectively.