Hong Kong’s new technology hub on the border with Shenzhen has attracted strong interest from major conglomerates and high-tech firms, with six bids submitted for its first land tender, according to the operator of the site. The Loop Hong Kong Park Company, which manages the Hong Kong-Shenzhen Innovation and Technology Park (HSITP), reported that the bids covered four land parcels totaling more than 76,000 square meters of gross floor area. The parcels are designated for innovation and technology uses as well as talent accommodation.
The tender, which opened in June and closed yesterday, received a higher-than-expected response, surpassing the enthusiasm seen in a recent land sale linked to the Northern Metropolis pilot project at Hung Shui Kiu, which attracted only two bidders in July. Unlike the Hung Shui Kiu site that combined property development with an innovation hub, the HSITP parcels are fully centered on fostering scientific research and technology commercialization.
The operator highlighted that the tender process employed a weighted evaluation system, assigning 70% of the score to technical proposals and 30% to financial offers. This approach aimed to encourage development plans that integrate scientific research with applications across the entire supply chain, rather than focusing solely on financial returns. Winning bidders will be responsible for overseeing the design, construction, financing, and management of their respective sites, including accommodation facilities for talent. The Loop Hong Kong Park Company said contract awards are expected before year-end, with winners likely to be announced next month.
HSITP is situated within the Hetao cooperation zone, a cross-border initiative proposed by Beijing in 2017 as part of the larger Northern Metropolis megaproject. The park consists of two campuses located on either side of the border between Hong Kong and Shenzhen, aimed at fostering collaboration between both regions in innovation and technology development.
Industry experts welcomed the strong response to the tender as a positive sign for Hong Kong’s position in the tech sector. Kathy Lee, head of research and retail at Colliers, described the turnout as exceeding market expectations and underscored the park’s unique advantage as a hub where cross-border data exchange, biological samples, and international capital converge. She noted that the ecosystem supports technology firms in scaling research and development while facilitating faster commercial growth.
Lawmaker Duncan Chiu also emphasized the significance of the project for enhancing cross-border innovation collaboration, particularly in life sciences and talent mobility. He described the park as a potential pilot for early breakthroughs in these areas, reflecting high expectations for synergy between Hong Kong and mainland entities.
Tender documents specify that bidders must provide a HK$100 million bank-backed construction bond as a financial guarantee when signing the agreement, ensuring compliance with contractual obligations. The four parcels up for tender include two sites dedicated to information technology development and two allocated for worker accommodation.