HK Budget – Additional $4.9 billion for Science Park Development

Hong Kong – The government will inject HK$4.9 billion to develop phase 3 of the Hong Kong Science Park,  Financial Secretary John Tsang said.

“Construction works are expected to start next year for completion in phases between 2013 and 2016.”

Located in Pak Shek Kok,  New Territories, the scientific park of 220,000 square metres is home to 300 science and technology companies from Hong Kong, the mainland and abroad.

Tsang said the overall leasing rate was close to 85 pct at present. The third phase expansion is expected to attract “4,000 R&D-related jobs or so … upon completion.”