InvestHK, the agency responsible for attracting foreign investment, said at least 20 proptech companies are expected to set up shop in the city after attracting HK$273.7 million (US$35 million) in investments from 25 companies in the city last year. had attracted the sector.
These investments came from eight countries and regions. Twelve companies from China settled in the city, followed by four from Australia and three from the United Kingdom. Companies from Germany, Macau, Singapore, Turkey and Pakistan were also among the investors.
These newly established companies created 221 jobs, mainly engineers, technicians and architects, according to InvestHK.
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“Hong Kong has a robust and mature infrastructure market, which helps attract companies to Hong Kong,” Herman Tse Yu-man, head of corporate and professional services at InvestHK, said on Thursday.
The agency also expects to attract a similar number of “relevant companies” this year, he added.
One of the companies that established itself in Hong Kong was Architecture & Decoration Technology Group, which provides services based on artificial intelligence and Big Data.
“We chose Hong Kong because we believe that construction and decoration is an international business, and that is why Hong Kong was our first choice, because we want to build our business together with the rest of the world,” said Isabella Zhong, managing director of Architecture & Decoration. .
Managing director of Architecture & Technology Isabella Zhong (left) with CEO Kevin Huang during InvestHK’s media briefing in Hong Kong on Thursday. Photo: Yik Yeung-man alt=Architecture & Technology director Isabella Zhong (left) with CEO Kevin Huang at InvestHK’s media briefing in Hong Kong on Thursday. Photo: Yik Yeung-man>
“Our next focus is on Southeast Asia and the Middle East,” she said, adding that the company has used the city as a base to connect with customers from Saudi Arabia and Israel.
She said the company will take full advantage of the opportunities Hong Kong has to offer and will consider listing on the Hong Kong Stock Exchange when the time is right.
Ailytics is another company that established itself in Hong Kong last year. The Singaporean proptech company uses artificial intelligence to improve the safety and productivity of companies in the construction and manufacturing industries.
The company plans to use its presence in Hong Kong to tap business opportunities in mainland China.
In May, InvestHK said Hong Kong had attracted 45 life science technology companies to establish or expand in the city. These companies had invested about HK$6.5 billion since 2023, which officials said was a positive response to their efforts to make Hong Kong an innovation hub for life sciences.
According to data from the Office for Attracting Strategic Enterprises and InvestHK, the investments will create around 3,200 jobs in the coming years.
Last month, an InvestHK executive said the Middle East and Indonesia are the next targets for Hong Kong to attract family offices.
There are many opportunities in Indonesia, says Jason Fong, global head of the family office at InvestHK.
“These large Indonesian family businesses and family offices are familiar with Hong Kong, but surprisingly they are not so aware of how much knowledge and wisdom we have in the family office [space]Fong said.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice covering China and Asia for more than a century. For more SCMP stories, explore the SCMP app or visit the SCMP Facebook page Tweet Pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.
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