Property Sector Welcomes Cushman Wakefield's 2025 Policy Address Response with Jubilation
The Northern Metropolis is preparing for a significant transformation, with the government adopting various strategies to establish it as a hub for international innovation talent. One of the key approaches is the introduction of the "1.5-level development" model, which focuses on preparing and nurturing the foundation for mainstream industries.
This model suggests the introduction of ancillary facilities that require lower development intensity and smaller capital investment. These facilities, although smaller in scale, can provide crucial support to the growth of mainstream industries.
The Development and Operation Model Design Group, responsible for the introduction and operation of mainstream industries, is promoting public-private partnership models like the Build-Operate-Transfer (BOT) model. The BOT model is designed to promote mainstream industries and formulate sustainable operations through public-private partnerships.
The government is also encouraging diversified land grant methods, including leases, open tenders, restricted tenders, and direct grants, to accelerate the implementation of high-potential projects. This approach aims to streamline the process and attract investments in the Northern Metropolis.
Universities in the Northern Metropolis play a pivotal role in this transformation. They have a powerful "enabling effect," helping to upgrade mainstream industries to higher levels of technology and knowledge intensity. The government is encouraging the leveraging of these institutions to promote scientific research and attract local and international academic resources.
The University Town in the Northern Metropolis is not just a base for talent cultivation but also a cradle for promoting innovative research and development and high-value-added industries. Through several years of incubation and operation, population flow and industrial elements can be gradually gathered, allowing for the second phase of development once industries mature.
In addition, the government is adopting the "two-envelope approach" in the Northern Metropolis, with a focus on increasing the weighting of the technical bid. This approach is intended to ensure that projects are awarded to those with the most technically sound proposals.
The Northern Metropolis's journey towards becoming a global innovation hub is well underway, and with these strategic initiatives in place, it is poised to make significant strides in the near future.
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