Far East Consortium chairman David Chiu says industry’s willingness to invest in the Northern Metropolis hinges on the health of the market
3-MIN READ3-MIN1 ListenMatthew Chengin BeijingPublished: 9:30am, 11 Mar 2026A Hong Kong property tycoon has called for a more prudent approach to the city’s development rather than accelerating projects amid global uncertainties, saying the industry’s willingness to invest in the Northern Metropolis hinges on the health of the market.Far East Consortium chairman David Chiu Tat-cheong also described the megaproject’s new land disposal approach – which requires winning bidders to handle multiple developments on a large plot – as good intentions with unintended negative consequences, as it could make it challenging for smaller developers to take part.
“If you had asked whether [Hong Kong] should move faster six months ago, I might have said ‘maybe’,” Chiu said. “But today, I believe we should not rush. We should progress while ensuring stability, because the world is constantly changing and we cannot control it.”
He added: “We as businesses and the Hong Kong government are very small players. We cannot control the overall situation. If we move too quickly in such a chaotic world, I am afraid we will stumble.”
