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Cyberport tips maiden profit this year (STANDARD) 12月 06日 星期三 03:30AM

Hong Kong's information technology flagship, Cyberport, expects to post a net profit for fiscal year 2006 - its first since the commercial project's launch in April 2002 - thanks to improving occupancy.






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"The occupancy of Cyberport is now at 75 percent with 96 tenants, including 30 incubate companies," Nicholas Yang, chief executive of Hong Kong Cyberport Management, said Tuesday on the sidelines of Cyberport Venture Capital Forum 2006.
Yang said the project is expected to record a profit for the year ending March 31, 2007, but he declined to provide details.
Located at Telegraph Bay in the southern district of Hong Kong Island, Cyberport is wholly owned by the government with a total investment of HK$15.8 billion.
Cyberport's occupancy rate climbed from 25 percent in 2003, to 42 percent in 2004, and 54 percent in 2005.
The project comprises four office buildings with a total area of 95,000 square meters, a five-star hotel, and a 27,000-square-meter retail and entertainment complex.
Yang said the average monthly rent, including management fees, stands at HK$20 per square foot.
He added the company will adjust rents according to market conditions.
However, Cyberport rents still lag far behind the average HK$77 psf net effective rents for Grade A office space recorded in Central in the third quarter, according to Savills Valuation and Professional Services.
Yang said the company will continue to enhance Cyberport's identity as Hong Kong's IT flagship and attract more tenants by organizing events and promotions, including the Cyberport Venture Capital Forum, in which The Standard is a media partner.
CVCF 2006 was being held Tuesday at Cyberport. The forum was also hosted there in 2004 and 2005.
Yang believes the event can help connect the investment community with entrepreneurs, as well as promote Cyberport's image and attract potential tenants.
http://hk.news.yahoo.com/061205/318/1xq0m.html