Chief Executive John Lee vowed on Wednesday to expedite the development of three university towns in the Northern Metropolis with the aim of driving the synergistic development between industries, academia and research. The area set aside for the Northern Metropolis University Town (NMUT) spans more than 1,000 hectares in total, covering San Tin, Hung Shui Kiu and Ta Kwu Ling. Delivering the city’s first five-year plan at the Legislative Council, Lee said the government would provide financial backing for universities to set up campuses at the towns. “In terms of financial arrangements, the government will provide full support through a multi-pronged approach such as land premium exemption and loans while post-secondary institutions will mobilise their reserves and/or employ flexible funding modes, such as the issuance of bonds, to bring in market and social capital to jointly advance the NMUT development,” he said. Lee said each university town would have a distinct focus that encompasses the five elements of education, technology, industry, talent and urban development. The San Tin University Town will focus on the development of medicine, life and health technology, AI, robotics
