The Cyberport project was announced by Financial Secretary Donald Tsang Yam-kuen in his March 4 Budget speech. The $13 billion hi-tech electronic commerce centre would be built in Pokfulam to enable Hong Kong to meet the challenges of the information technology era. In addition to more than 100 companies, the Cyberport will have 2,500 residential units and shopping facilities. About 4,000 jobs are expected to be generated during its construction, due to be completed in 2007. Upon completion, it is estimated that 12,000 jobs would be available. Pacific Century Group would invest $7 billion to construct the Cyberport, while the Government would provide land and $6 billion to build the sewage and transport infrastructure for the 26-hectare site. Supporters of the project said it would bring top talent and leading international hi-tech companies to Hong Kong. Professor Leroy Chang Li- gong, physicist and Hong Kong University of Science and Technology vice-president for academic affairs, said: 'To have really creative and talented people rubbing shoulders and living together closely, and a nice living space to attract and retain them - who knows what they will be able to come up with?'