With new state-of-the-art manufacturing centre facing ‘overwhelming’ tenant response, can Hong Kong find space for innovation sector?
- HK$6.65 billion Advanced Manufacturing Centre is a keystone of government’s re-industrialisation strategy
- But demand may outstrip supply as companies seek local base, and city could find itself short on space for sector that it wants to grow
The operator of Hong Kong’s science park will consider building more advanced manufacturing facilities to accommodate future needs as demand for space at a planned project in Tseung Kwan O is likely to outstrip supply.
The final tally of applications for floor space at the 1 million sq ft Advanced Manufacturing Centre (AMC) – a key component in the government’s re-industrialisation strategy – is expected to be “overwhelming”, according to a source close to the matter.
The source cited preliminary results of a survey conducted by the Productivity Council last year on 500 local and overseas companies across 20 different industries, which indicated “very strong demand and support”.
Over a quarter of respondents – about 125 companies – have expressed interest in establishing advanced manufacturing facilities in the city.
Full results of the survey will be announced within this quarter.
The Hong Kong Science and Technology Parks Corporation declined to reveal the number of applications so far but the source said the park may have to consider further development of facilities like the AMC to accommodate future needs.
Pre-leasing of factory space at the state-of-the-art facility is set to begin in the first quarter of the year, although it is not set to open until 2021-22 at the earliest.