Cyberport (數碼港) is a campus-style, low-density project consisting of commercial, retail, hotel, entertainment and residential facilities by PCCW Limited, the Hong Kong's dominant fixed telephone firm .
Hong Kong-listed PCCW, headed by entrepreneur Richard Li (李澤楷), the second son of one of the Asia's wealthiest businessmen Li Ka-shing (李嘉誠), signed an agreement with the Hong Kong SAR government in 2000 to design, build and market the technology-themed Cyberport.
Background for the establishment of the Cyberport
In the annual report (1999) published by the Hong Kong Government of Special Administrative Region (HKSAR), it gives the overview for the idea of the Cyberport because of the rapid growth on the number of internet users and online transactions. The Cyberport aims at helping nurture the information technology development in Hong Kong to meet the demand for the profession in the future. Furthermore, it is also considered as one of the ways leading to rebound of the Hong Kong economy, after the financial turmoil in 1997.
The HKSAR signed the agreement with Hong Kong Cyberport Management Company Limited, which is wholelly financed by the PCCW, on 17 May 2000.
Geography
It is located on the southwest side of Hong Kong Island, between the areas of Aberdeen and Pokfulam. It comprises a total of 5.7 million square feet with a 27,000 square metres retail and entertainment complex and a 173-room five-star hotel; it is designed to attract and nurture IT and multimedia-related activities in Hong Kong.
Project overview
The Cyberport project has been mired in controversy since the Hong Kong government chose PCCW in 1999, without competitive bidding, to develop the HK$15.6 billion commercial, retail and residential project that is intended to be Hong Kong's answer to California's Silicon Valley.
Critics see the Cyberport as a real estate project dressed up with the IT elements. Recently, the promotion of the residential properties in Cyberport has attracted far more attention than the technology-related development that it is supposed to nurture.
PCCW is trying to find new growth avenues after losing its telephone monopoly in Hong Kong and has high hopes for its Cyberport project.
Financing
PCCW invested a total of HK$ 3.89 billion by the end of 2002 in Cyberport project. PCCW will continue to contribute equity into the Cyberport development in the near term before the project becomes self-funding.
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, will be substantially completed during 2003, with the final phase due to follow in mid-2004.
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 Managment 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, CMGI, Hewlett-Packard, Hikari Tsushin, Hua Wei, IBM, Legend, 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. [3]
Residence Bel-Air
The sales of Residence Bel-Air, the residential portion of the Cyberport development, started in February 2003.
Management
Hong Kong Cyberport Management Company Ltd (HKCMCL), wholly owned by Hong Kong SAR government is responsible for the development, operation and management of the Cyberport project.
Highlights of services and facilities
Services
- Data Center
- IP Telephony
- VSAT Hub Services & Satellite TV
- Digital Asset Management
- Video-on-Demand/Data-on-Demand
- Web Casting
- CyberChannel and SMARTCARD
Facilities
- IT Street
- Presentation & Training Theatres
- Ocean View Court
- MML & Studio Production
- Interactive Kiost Network (I-NET)
- Fitness Centre
Transportation
New World First Bus Route M49 runs between Cyberport and Central (Hong Kong Airport Express Station) from 6:00am to 12:00 midnight daily.
Citybus Route 73 runs from Cyberport via Wah Fu to and from Stanley from 7:20am to 11:45pm daily.
Citybus Route 73P offers two trips in the morning departing from Aberdeen Promenade to Cyberport at 7:40am and 7:50am from Mondays to Saturdays.
New World First Bus Route 970P operates six departures from So Uk Estate in Sham Shui Po to Cyberport in the morning and six departures from Cyberport to So Uk Estate in the evening via the Western Harbour Crossing.
Green Mini-bus Route No. 69 between Cyberport and Quarry Bay via Causeway Bay started to operate in January 2003 from 7:00am to 12:00 midnight daily.
Car Park over 760 parking spaces for Cyberport tenants and visitors, offering parking on an hourly or monthly basis.