Magazine article Journal of Property Management
Multimedia Metropolis: Asia's Cyberport IT Hub Draws Digital Entertainment Industry Talent from around the Globe
There's a new port of call in the South China Sea and it's designed to attract a generation that trades in digital entertainment.
Cyberport--Hong Kong's information technology flagship--is a landmark $2 billion mixed-use development with an interactive environment designed to house a strategic cluster of about 100 information technology services and multimedia companies along with 10,000 professionals working in these fields.
The project is managed by Hong Kong Cyberport Management Company Limited and wholly owned by the Government of the Hong Kong Special Administrative Region. Cyberport is being rolled out in phases on a 59-acre site on Telegraph Bay in the southern district of Hong Kong. The commercial portion was completed between 2002 and late 2004 and comprises one million square feet of Class A intelligent office space, a 300,000-sq. ft. retail and entertainment complex known as "The Arcade" and the five-star, 173-room Le Meridien Cyberport hotel. The deluxe residential development will provide about 2,800 condominiums to be completed and sold through 2007.
Current office asking rents are in the $1.40-$1.70 per square foot range and prospective tenants are required to submit formal applications for review by a committee of local, international and industry experts. Cyberport's management aims to house a cluster of companies in the information technology/information services and digital content creation, management and delivery industries. …