Hong Kong’s data centre ambitions face US$2.6 billion funding test
As North American investors pull back, the city increasingly relies on mainland Chinese demand
Hong Kong's plan to become a leading data centre hub has hit a funding hurdle. When the government auctioned a Sandy Ridge site as a high-tech data centre zone late in 2025, little interest was shown by local developers and overseas data centre operators. Range Intelligent Computing Technology Group from mainland China was the only bidder, offering HK$24 billion (US$3.1 billion).
Now, Hong Kong bankers are considering financing for Range Intelligent, a company few in the industry have heard of until recently. Range Intelligent aims to raise around HK$20 billion (US$2.6 billion) from a loan, which would be one of the largest financing deals in Hong Kong this year. However, there are concerns about the company's ability to repay the loan and develop the site.
Hyperscalers like Meta Platforms and Alibaba are driving demand for data centres, but North American investors are pulling back in favor of US-based hyperscalers. Hong Kong relies more on Chinese demand, particularly from Alibaba, Tencent Holdings, and ByteDance. Sandy Ridge, near Shenzhen, can target Chinese hyperscalers. The government estimates Hong Kong's live data centre capacity will double to over 1,100 megawatts by 2030, requiring at least US$7 billion in investments.
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Also reported by 1 other outlet
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