Ep. 11 | Brownfield land resumption in the Northern Metropolis: What does it mean for industrial real estate?
Description
As part of the government’s long-term development plan for Hong Kong, the coming years will see the transformation of the northern part of the New Territories into a world-class innovation and technology hub known as the Northern Metropolis. This project will take two decades to be completed and will require existing brownfield users to be relocated to facilitate high-rise and infrastructure development. Innovative solutions to accommodate the real estate needs of relocating brownfield site users will create significant opportunities for existing and future industrial building owners.
According to CBRE's latest research report, it is estimated that the relocation of brownfield land users will create 31 million square feet of demand for different types of industrial properties, creating significant opportunities for industrial landlords.
United States
