On September 19, 2024, the MTR Corporation (00066.HK) announced that it has signed a project agreement with the Commissioner for Transport and Logistics (representing the government). This project agreement covers the financing arrangements, design, construction, completion, pre-operational preparation, operation, and maintenance of the Hung Shui Kiu Station. The company shall undertake or cause others to carry out the Hung Shui Kiu project, as well as reset, remedy, and improve the project, and shall ensure the operation, operation, and maintenance of the Hung Shui Kiu project.

The proposed development site of Hung Shui Kiu covers an area of approximately 8.2 hectares, with the proposed use for residential and commercial purposes.

To support and further develop its main business, the company has entered into a project agreement for Hung Shui Kiu, which will allow the company to expand its railway network through the implementation of the Hung Shui Kiu Station. In accordance with the above benchmarks, the company will maintain the rail plus property model by implementing property development projects to supplement the returns of the Hung Shui Kiu project (while also contributing to increasing future railway passenger volumes due to the passenger coverage generated near such property development projects), enabling the Hung Shui Kiu project to achieve a satisfactory commercial ROI.