Hong Kong’s university town: where’s the money and what will success look like?

Hong Kong boasts a high concentration of top universities, with eight making it onto global and regional rankings. A new buzz phrase, 'university town,' is gaining popularity as excitement builds for a new economic hub. The proposed town spans 1,000 hectares, including 300 hectares of campus space. However, university leaders are cautious and seeking answers regarding the development parameters, timeline, and financing model.

The university town aims to facilitate research and development (R&D) schemes into application projects and field trials. While the broader Northern Metropolis focuses on education and technology, the university component is seen as a central engine that could be realized within five years. A working group, led by Chief Secretary Eric Chan Kwok-ki, has studied viable models in mainland China, Korea, Germany, and Switzerland, including the "Silicon Valley of Korea" in Daedeok Innopolis.

The government plans to integrate insights gained from these field trips to create a modern university town that reflects Hong Kong's unique characteristics while serving the nation. Land for the university town will be allocated in phases, with the first tender set for next month and the initial lot ready by the end of the year.

The town could provide space for industry, academia, research, and application, potentially benefiting mainland firms looking to expand globally. While Hong Kong's universities are strong in research and development, the town's success will depend on financial incentives from the government and private sector.