With about half of Cyberport's completed office space yet to be filled, the government is broadening its tenant search to smaller technology companies. Eighteen tenants have taken up about 28,500 square metres of lettable area in four completed buildings, according to figures from government-owned management company Hong Kong Cyberport Development Holdings. That represented about 52 per cent of the 55,000 sq metres of completed floor area and about 30 per cent of Cyberport's total available 94,141 sq metres. The Pokfulam project has been hit by the severe downturn affecting global Internet and telecommunications companies. About 40 firms which in 1999 signed a memorandum of understanding (MOU) to move to Cyberport did not honour the non-binding commitment. Just seven companies that signed the memorandum have become tenants. With the management company attempting to attract small firms, two companies were recently given one-year rent-free periods. A Cyberport Development spokeswoman said she was satisfied with the leasing progress. 'We did not set any expectations, and there has been no delay in the construction project. Overall, we are satisfied,' spokeswoman Kathleen Chan said. In the past year, Cyberport has searched for new tenants by taking part in overseas roadshows, including China. Cyberport co-ordinator Betty Fung Ching Suk-yee said: 'This is a new concept to sell. Cyberport is a showcase of how Hong Kong can put together a world-class telecoms and technological infrastructure.' Cyberport has reserved 1,000 sq metres for a digital media centre, hoping to form a cluster of firms that will provide audio and video production facilities by the end of the year. Mrs Fung said a 300 sq metre wireless development support centre would also be set up, aiming to foster companies specialising in content and applications for mobile communications. The centre, to be run by the Cyberport management company, should be up and running in the third quarter. Mrs Fung said five of Hong Kong's six mobile operators supported the concept and were willing to sponsor it. However, it had yet to determine if the industry organisation, the Wireless Technology Industry Association, would run the centre. PCCW Infrastructure residential sales and marketing director Wendy Gan said more than 50 units at Residence Bel-Air, Cyberport's residential portion, had been sold at an average of about HK$5,500 per square foot. Graphic: port18gbz
