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Agreement Signed to Develop HK's Cyberport
The government of the Hong Kong Special Administrative Region signed the Cyberport Project Agreement Wednesday with the Pacific Century Cyber Works (PCCW). The agreement provided a legally binding contract for the whole project period which would last from the commencement of the construction of the Cyberport in mid-2000 to the sale of all units in the Residential Portion up to mid-2007, said a government spokesman.
"It covers many detailed issues relating to construction, financing arrangements, sales of residential units, application of the sales proceeds, intellectual property rights," he said. The Cyberport, to be built at Telegraph Bay, Pokfulam, is an important information infrastructure project which aims to attract to Hong Kong in the shortest possible time a strategic cluster of companies specializing in information technology (IT) applications and in information services (IS) and a critical mass of professional talents in the IT/IS field.
Since the announcement of the Cyberport project in March last year, 15 multinational companies including IBM, Cisco, Microsoft, Sybase, Hewlett Packard, and Yahoo! have signed letters of intent to become anchor tenants at the Cyberport, and 105 other companies, both local and overseas, have registered interest to become tenants.
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