ebulletin

October 1, 2026
HKU Submits EOI for Northern Metropolis University Town Development

Leung Kui Kau Building Repurposed as R&D Hub, Pok Fu Lam Road Campus Targets 2028 Completion

The University of Hong Kong (HKU) is pressing ahead with a new round of campus development centred on Hong Kong’s Northern Metropolis. As of September 2026, the institution has formally submitted its expression of interest to the HKSAR Government for land in the Northern Metropolis University Town, confirming bond issuance remains a viable financing option.

As a centrepiece of Hong Kong’s inaugural Five-Year Plan for Economic and Social Development and the 2026 Policy Address, the Northern Metropolis University Town follows a "One City, Five Elements" development model, integrating education, technology, industrial growth, talent cultivation and urban construction across three dedicated clusters in San Tin, Hung Shui Kiu and Ta Kwu Ling. The full masterplan spans over 1,000 hectares, including adjacent industrial sites, conservation zones, leisure and cultural amenities, and supporting residential communities, with roughly 300 hectares zoned as the core campus precinct.

On the financial front, the government has earmarked HK$10 billion in interest-bearing loans to support tertiary institutions constructing new facilities in the area. HKU will evaluate its eligibility for this funding, with institutional fundraising and capital market bond issuances also under consideration to cover project costs.

HKU has already laid the groundwork for large-scale capital raising, having established a US$1 billion (around HK$7.8 billion) medium-term note programme to meet upcoming construction expenditure. Its 2024-2025 audited financial statements (ending 30 June 2025) show a consolidated annual surplus of HK$4.814 billion after a HK$822 million repayment to the government, with total institutional assets standing at HK$58.636 billion.

Hung Shui Kiu University Town: Fast-Track Development for Smart Construction

Of the three planned university towns, the Hung Shui Kiu cluster has the most advanced construction timeline. Situated within the Hung Shui Kiu/Ha Tsuen New Development Area, it is positioned as a specialist hub for advanced manufacturing, application-focused higher education and global talent development.

The total designated campus area has been doubled from initial proposals to over 22 hectares, split into three parcels of 12.7 hectares, 5.3 hectares and 4.4 hectares respectively. The largest parcel will be delivered in phases, with the first 5-hectare section due to complete site formation works by the end of 2026, and all remaining land parcels fully prepared for construction by late 2027.

On 17 September 2026, the government formally opened applications for the 26-hectare combined campus site in Hung Shui Kiu, with submissions due by 31 December 2026. Under the published tender guidelines, participating institutions may apply for government loans covering up to 50% of total projected construction costs, with the remaining 50% required to be funded through internal reserves or third-party financing. All loan-supported applications will require final approval from the Legislative Council’s Finance Committee.

The government aims to announce successful institutional tenants in early 2027, with phased occupation possible from 2027 to 2028. The MTR Tuen Ma Line’s Hung Shui Kiu Station is scheduled to commence operations in 2030.

Campus Retrofit & New Build Works Progress in Central Hong Kong

HKU is pushing forward with two major construction and renovation projects at its main Pok Fu Lam campus. The university has allocated HK$209 million to retrofit the central Leung Kui Kau Building into a purpose-built R&D centre. Currently occupied by the Faculty of Business and Economics, the 18-storey structure will be fully vacated once the new Pok Fu Lam Road Campus is completed, then comprehensively reconfigured to house research facilities.

Around 65% of its total floor area will be converted into open-plan laboratories, dedicated AI research infrastructure, high-performance data science computing platforms and shared interdisciplinary research zones. Upon completion, the upgraded facility will support no fewer than 50 research teams and approximately 1,400 researchers and postgraduate students.

The new Pok Fu Lam Road Campus, located at the intersection of Pok Fu Lam Road and Pok Fei Road, is targeted for handover and commissioning in 2028, delivering a total gross floor area of 90,000 square metres. The project is the critical enabling work to allow the Faculty of Business and Economics to relocate from the main campus, and HKU is currently arranging around HK$8 billion in project financing to support its delivery.

The final land allocation process for the Northern Metropolis University Town remains underway. The government has received 19 separate development expressions of interest from local tertiary institutions, with the Hong Kong University of Science and Technology already granted approval to develop Hong Kong’s third medical school on a permanent campus site in Ngau Tam Mei. Final details of HKU’s Hung Shui Kiu land allocation, site area and approved financing structure will be released by the government in subsequent announcements. (Reported by Building.hk)

Location: Junction of Pokfield Road and Pokfulam Road

Five main buildings with green areas will be developed in three phases with an estimated construction floor area of 130,000 square metres

Phase 1: An academic complex of the HKU Business School and a multi-purpose sports complex

Phase 2: Residence for staff and visiting scholars

Phase 3: An interactive teaching and learning complex and a conference centre

Works started in Q1 2021; to be completed in phrases starting from 2027