Hong Kong: Cyberport Project On Track As Tenant Selection Body Is Established

Mary Swire, Tax-news.com, Hong Kong

20 March 2001

Hong Kong's Cyberport project, which is owned by the government but is being developed by Pacific Century CyberWorks, has so far seen significant interest from a large number of companies. When complete, the Cyberport is set to house around 150 to 200 companies of varying sizes. As the government announced last week that it had set up a Committee on Admission of Cyberport Office Tenants (CACOT), it said that already 270 companies had shown an interest in locating there.

Construction of the Cyberport commenced in May 2000 and it will open in phases between early 2002 and the end of 2003. It will be serviced by a state-of-the-art telecommunications infrastructure, supported by offices and accommodation of "a world class standard", says the goverment. The environment will be campus-like and aims to attract a cluster of companies specialising in areas of information technology, information services and multimedia.

According to the government, the objectives of the Cyberport include heightening local awareness of IT; creating an international multimedia and information services centre to consolidate Hong Kong's position as an information and technology hub; and providing long-term benefits to Hong Kong's economy.

Office tenants will be selected through the Hong Kong Cyberport Management Company Limited, acting on the advice of the new CACOT, which will be chaired by Carrie Yau, secretary for Information Technology and Broadcasting.

A spokesperson for the Information Technology and Broadcasting Bureau said in a statement: 'The Cyberport is an important infrastructure being developed at the Telegraph Bay, Pokfulam.....To date, more than 270 companies have registered interest in becoming office tenants. Fifteen of them (such as Cisco, Hewlett Packard, IBM, Microsoft, Oracle and Yahoo! etc) have signed Letters of Intent to become anchor tenants.'

Recommended