Chai Wan leasing pact first of many

A long-term agreement has been signed by iAdvantage with iAsiaWorks to lease 62,000 square feet at its proposed Internet service centre in Chai Wan.

The company also plans to lease substantial footage in Beijing and Shanghai.

Eric Tung Chi-ho, managing director of iAdvantage, a subsidiary of Sunevision Holdings, refused to disclose the terms of the agreement.

'We see the deal as more like a partnership rather than a leasing agreement,' he said.

Technology and Internet know-how would also be provided by iAsiaWorks to increase competitiveness in the industry.

The proposed 350,000 sq ft Internet service centre, Mega-iAdvantage, is due to be completed this year.