Hong Kong tech park tender requires HK$100m bond from bidders

The Hong Kong-Shenzhen Innovation and Technology Park (HSITP) has initiated a public tender for four land parcels, including two IT sites and two worker accommodation facilities, totaling over 76,000 square meters of gross floor area. According to tender documents reviewed by the South China Morning Post, prospective bidders must secure the land parcels by posting a HK$100 million (US$12.7 million) construction bond as a financial guarantee. Additionally, successful consortiums will be required to complete the design, construction, financing, and management of their respective sites within a stringent 30-month timeframe. These requirements, which differ from standard government land sales, suggest an intention to attract bidders with substantial financial backing to ensure project completion and avoid potential construction delays or abandoned developments.