26 February 2025 – Hong Kong – Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITPL) welcomes the 2025-26 Budget announced today. The Budget allocates $3.7 billion to expedite the provision of infrastructure and public facilities of Phase 1 development of the Hong Kong Park in the Loop. The government will also identify suitable land parcels for invitation of private development proposals this year with a view to expediting the development by leveraging market forces.
Mr. Vincent Ma, Chief Executive Officer of HSITPL said, “We are greatly encouraged by the authority's proactive allocation of resources to provide impetus for the development of the I&T industry. The $3.7 billion earmarked to expedite the provision of infrastructure and public facilities of Phase 1 development of the Hong Kong Park in the Loop will be instrumental to further accelerate the overall development of the Park. We remain committed to develop the Hong Kong Park in the Loop into a world-class I&T hub which connects the Mainland and the rest of the world, as well as act as a crucial source of new quality productive forces for our country.”
The development of the first phase of HSITP is progressing at full speed. The first batch consists of three buildings, of which the five-storey Talent Accommodation has already been completed; the remaining two 8-storey buildings, both equipped with advanced wet laboratory facilities, are expected to be completed later this year. The three buildings will provide a total gross floor area of about 37,700 square meters.
Mr. Ma added, “As the first batch of buildings in the Park gradually take shape, we expect the first group of tenants from life and health technology, AI, data science and other pillar industries to move in from the second half of the year onwards, marking the rapid development of the Hong Kong Park in the Loop to attract business, investment and talent, injecting impetus into Hong Kong’s I&T development.”
