Cyberport
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Cyberport (Chinese: 數碼港) is an IT-themed infrastructure hub area consisting of state-of-the-art infrastructure buildings in Hong Kong Island, Hong Kong. It is an area designed to attract quality IT companies to help make Hong Kong the digital city of the Asia-Pacific region.[1]
Cyberport is being developed on a 24-hectare site at Telegraph Bay. The project aims to build a community interconnected by state-of-the-art broadband network consisting of four office buildings, a five-star hotel, a retail entertainment complex and about 2,800 deluxe residential homes, leading to an interactive environment that will be home to a strategic cluster of about 100 companies and 10,000 professionals in the IT and creative industries.
Hong Kong-listed PCCW, headed by entrepreneur Richard Li, the second son of one of Asia's wealthiest businessmen Li Ka-shing, signed an agreement with the Hong Kong government in 2000 to design, build and market the technology-themed Cyberport. This decision by the Government to grant the project without the benefit of an open tender was highly controversial.[2]
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[edit] Background of the project
In its 1999 annual report, the Hong Kong government revealed its hope that the Cyberport would help local businesses capitalize on the rapid growth of the Internet. The Cyberport was intended as a place where the development of information technology and multimedia would be nurtured so that the demands of these industries could be met in the future. It was also hoped that this development would help the HKSAR's economy rebound after the East Asian financial crisis of 1997.
On 17 May 2000 the Government of the HKSAR signed an agreement with Hong Kong Cyberport Management Company Limited (HKCMCL). The agreement required PCCW to perform the role of developer, complete the project by the agreed deadline, and to carry the risks associated with construction, financing and default/completion.
According to the agreement, the Cyberport would be handed back to the HKSAR Government upon completion so that ownership and management rights would ultimately reside with the Government. A private company, Cyberport Management Company Limited, was set up by the Government to hold the title of the Cyberport and operate the Port.
The government's capital contribution to the project was the Residential Portion Land Value of the Cyberport, valued at HK$7.8 billion, which included an estimated cost of around HK$1 billion for infrastructure work. PCCW was responsible for the construction costs of both the Cyberport portion and the residential portion.[3]
[edit] Location and features
The development is located at a reclaimed bay - the Telegraph Bay or Kong Sin Wan - on the southwest side of Hong Kong Island, between Aberdeen and Pok Fu Lam, near Baguio Villa. It has a total area of 5.7 million square feet (530,000 m²), providing 27,000 m² of retail and entertainment space and a 173-room five-star hotel.
[edit] Financing
By the end of 2002 PCCW had invested a total of HK$3.89 billion in Cyberport.
[edit] Construction
The first phase of Cyberport, consisting of office space, was completed on schedule in 2002. The balance of the Cyberport campus, comprising office and retail space, and Le Meridien Cyberport Hotel, was completed during 2003, with the final phase finishing in mid-2004.
On 27 June 2003, Cyberport announced the official opening of Phases I and II and its Visitor Centre.
The construction of the Cyberport portion is being completed in phases between mid-2002 and late-2004 to provide altogether about 100,000 square metres of grade A office space to accommodate 100-plus IT and related companies. It is now inviting IT or related companies to rent the office space. Cyberport tenants will be selected by the Hong Kong Cyberport Management Company, which was set up by the Government to hold the title to the Cyberport project and is owned by the Financial Secretary Incoporated. Selection will then be based on the advice of the Committee on Admission of Cyberport Office Tenants (CACOT), which consists of local, international and industry experts. Applications will be processed according to a CACOT timetable. Some companies from around the world that were said to have expressed an interest to become anchor tenants include Cisco Systems, CMGI, Hewlett-Packard, Hikari Tsushin, Huawei, IBM, Legend (now Lenovo), Microsoft, Oracle Corporation, Silicon Graphics, SoftBank, Sybase and Yahoo!.
Construction work on the residential portion commenced in 2002. This will consist of approximately 2,800 units, which will be completed in phases between 2004 and 2007. The initial phase was launched in early 2003.
It also emphasizes the "Campus like Environment" to keep extensive green areas. Cycle tracks, seating areas and multi-purpose court would be built for people working there to relax. In order to be fitted with the landscape, the land at western edge would be for the outdoor activities while the eastern part would be for shaded seatings.
[edit] Rental
The 100,000-square metre prime office space originally aimed at providing a world-class environment for quality information technology companies. However, 13 out of the 25 companies that have signed up as of October 2003 are SMEs (small and medium-sized enterprises); only half the 575,000 square feet (53,000 m²) of completed floor space was occupied.
According to official information, the rent ranged from 11 to 13 HKD/ft² (120 to 140 HKD/m²). Hong Kong start-ups will be given discounts of up to 50 per cent for every 1,000 ft² (100 m²) they rent.
Also, given by the HKCMCL, companies whose main business is related to technology advancement or services would be first considered for rental arrangement.[3]
[edit] Residence Bel-Air
The sales of Residence Bel-Air, the residential portion of the Cyberport development, started in February 2003. All 544 flats in phase one of Residence Bel-Air had been snapped up by October 2003. The complex was designed by Wong Tung and Partners Limited.
[edit] Management
Hong Kong Cyberport Management Company Ltd (HKCMCL) is responsible for the development, operation and management of the Cyberport project.
Mr John E Strickland is Chairman of HKCMCL.
At the beginning of October Mr Nicholas Yang was appointed Chief Executive Officer. He took over from Mrs Betty Fung, Cyberport Coordinator, a career civil servant on secondment to the company. She will return to a position in the HKSAR Government.
[edit] What the Project Promises
- A new international IT centre
- A catalyst for the growth of local and regional IT industries
- New capital, new jobs, new economic activities and demand for supporting services
- An IT interface with daily life, providing IT education for the whole community
- A cyber-leisure experience for local residents and an added attraction for tourists
- A project focusing global attention on Hong Kong’s IT achievements as a leading digital city
- Hong Kong’s IT flagship for the like-minded companies and talent
[edit] Highlights of services and facilities
[edit] Services
- Data Centre
- IP Telephony
- VSAT Hub services and satellite TV
- Digital Asset Management
- Video-on-Demand/Data-on-Demand
- Web Casting
- CyberChannel and SMARTCARD
[edit] Facilities
- IT Street
- Presentation and Training Theatres
- Ocean View Court
- MML and Studio Production
- Interactive Kiost Network (I-NET)
- Fitness Centre
[edit] Transportation
Transportation pages from the official Cyberport website:
Car Park over 760 parking spaces for Cyberport tenants and visitors, offering parking on an hourly or monthly basis.
[edit] See also
[edit] References
- ^ Cyberport official site. "Cyberport official site." Vision. Retrieved on 2008-02-17.
- ^ Kc, Eric (March 21, 1999). Cyberport critics get stake hint. Hong Kong Standard. Retrieved on 2007-01-11.
- ^ a b Cyberport holdings. "Cyberport holdings." Holdings. Retrieved on 2008-02-17.
[edit] External links
