Cyberport

Hong Kong Cyberport
Cyberport 1 and 2
General information
Status	Complete
Location	Cyberport Road, Telegraph Bay, Hong Kong
Coordinates	22°15′42.5″N 114°7′48.77″E / 22.261806°N 114.1302139°E / 22.261806; 114.1302139Coordinates: 22°15′42.5″N 114°7′48.77″E / 22.261806°N 114.1302139°E / 22.261806; 114.1302139
Owner	Hong Kong SAR Government
Management	Hong Kong Cyberport Management Company Limited
Design and construction
Architect	Wong Tung & Partners Limited

Cyberport (Chinese: 數碼港) is a business park in Hong Kong consisting of four office buildings, a hotel, and a retail entertainment complex. It describes itself as a "creative digital community" with a cluster of technology and digital content tenants. It is owned and managed by Hong Kong Cyberport Management Company Limited which is wholly owned by the Hong Kong SAR Government.

In March 1999, the Hong Kong government announced their intention to develop a "cyberport", which would help local businesses capitalise on the rapid growth of the Internet. The government hailed it as development where information technology and multimedia would be nurtured so that future demands of these industries could be met. According to the press release by the Commerce and Economic Development Bureau, only one-third of the site would be for residential, the sale of which would then help finance the Cyberport development concept. The Cyberport is billed as the home to one incubation facility for ICT startups called Entrepreneurship Centre providing office space, financial aid package,training, micro fund and network access to the investment community.

The Hong Kong government inked a partnership deal with the Pacific Century Group (PCG) to develop a 26-hectare (64-acre) site with open sea view at Telegraph Bay in Pok Fu Lam, Hong Kong Island, at a total cost of HK$13 billion. It was announced as part of the 1999 budget by then-Financial Secretary, Donald Tsang. It was also hoped that this development would help the HKSAR's economy rebound after the 1997 Asian financial crisis, and bring a "strategic cluster of information technology and services companies situated in a world-class setting". The "strategic telecommunication node" was due to be formed due to its close proximity to the proposed "Teleport" in Chung Hom Kok. Touted benefits include "a range of shared facilities for tenants, including a multi-media based network, telecommunication links, media laboratory, cyber library and other information technology and services support facilities. There will also be educational, entertainment and recreational facilities related to information technology and services for local visitors and tourists".

As part of the deal, PCG would construct a 92,000-square-metre (990,000 sq ft) office complex with a 28,000-square-metre (300,000 sq ft) shopping mall and a 173-room hotel that would be put out to management. Title to these properties would be transferred to the government at zero cost, while PCG received land for 420,000 square metres (4,500,000 sq ft) of residential housing in exchange, and would reap 64.5 percent of the profits from their sale.