Cyberport Phase 5 Expansion Completed, Attracting Lenovo and Hangzhou Tech Giants
RTHK · 3 SOURCESabout 1 hour ago3 MIN
Summary
The Cyberport Phase 5 expansion was completed at the end of June 2024, marking a significant milestone for Hong Kong's innovation and technology sector. The project, which received 5.5 billion Hong Kong dollars in funding from the 2019 Budget, has increased total floor area by 40 percent . More than half of the newly available office space has already been leased to major tech enterprises, including Lenovo and companies from the "Hangzhou Six Dragons" cluster . Cyberport Chairman Chan Sai-ming stated that while the target occupancy rate is 100 percent, the priority is attracting companies that will make genuine contributions to Hong Kong's innovation ecosystem . The expanded facilities include dedicated "Smart Space" areas for small innovative companies and early-stage startups requiring minimal office footprint . Meanwhile, a 50 million Hong Kong dollar "Universal AI" inclusive program launched this year seeks to train 50,000 to 100,000 participants from grassroots communities, ethnic minorities, and seniors on AI applications .
Key Points
- Phase 5 construction finished in late June 2024, boosting Cyberport's gross floor area by 40 percent with 5.5 billion Hong Kong dollars allocated in the 2019 Budget
- Current occupancy exceeds 50 percent, with Lenovo and "Hangzhou Six Dragons" companies among the major tenants
- Chan Sai-ming emphasized that companies are selected based on their potential to drive Hong Kong's innovation development rather than occupancy rates alone
- Part of Phase 5 has been reserved as "Smart Space" for startups and innovative enterprises requiring modest space
- The "Universal AI" program with 50 million Hong Kong dollars in funding targets 50,000 to 100,000 beneficiaries including grassroots, minorities, and seniors
Why It Matters
Cyberport Phase 5 positions Hong Kong's innovation infrastructure to support the "South Finance, North Tech" development blueprint, with Cyberport anchoring the southern financial district alongside Science Park in the middle and the Hong Kong-Shenzhen Innovation and Technology Park to the north . The influx of mainland tech powerhouses like the "Hangzhou Six Dragons" signals Hong Kong's growing appeal as a gateway for Chinese technology companies seeking international expansion, while the Universal AI program addresses digital inclusion by ensuring vulnerable communities are not left behind in the AI era .
Cyberport Phase 5 positions Hong Kong's innovation infrastructure to support the "South Finance, North Tech" development blueprint, with Cyberport anchoring the southern financial district alongside Science Park in the middle and the Hong Kong-Shenzhen Innovation and Technology Park to the north . The influx of mainland tech powerhouses like the "Hangzhou Six Dragons" signals Hong Kong's growing appeal as a gateway for Chinese technology companies seeking international expansion, while the Universal AI program addresses digital inclusion by ensuring vulnerable communities are not left behind in the AI era .