HONG KONG – The Hong Kong-Shenzhen Innovation and Technology Park (HSITP) authorities expect the occupancy rate at the new tech hub to hit 90 percent in the first quarter of 2026.

The 87-hectare Hong Kong section of the Hetao Shenzhen-Hong Kong Science and Technology Cooperation Zone opened on Dec 22. It is situated in the Lok Ma Chau Loop in the northernmost part of the special administrative region.

The Hetao zone, a pioneering national innovation platform established under the vision of “one zone, two parks”, also includes a 300-hectare Shenzhen Park.

Speaking at a radio program on Saturday, HSITP chairman Kevin Choi Kit-ming said construction of three of the eight building complexes scheduled for completion in the first phase has been completed. While two of the buildings are dedicated to housing laboratories, the other one will be used for accommodation.

More than 80 percent of the floor space in the two laboratory complexes has already been leased out, he said, adding that one-fourth of the firms occupying the lab spaces are from overseas, while the rest are local and from the Chinese mainland.

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Asked about the target mix regarding origins of the leasing companies, Choi, who is also the permanent secretary for innovation, technology, and industry, said the authorities wish to ensure that “they are of the right industry mix.”

The advantages of Hetao and the loop are actually very attractive to all these enterprises, “especially because of those unique advantages that we can offer on cross-border research and capabilities, and also future policies between Shenzhen and Hong Kong on innovation collaboration,” he added.

Officials said the hub will foster greater innovation synergy in the Guangdong-Hong Kong-Macao Greater Bay Area and boost the nation’s new quality productive forces.

As a cooperative zone spanning two systems, the Hong Kong Park will coordinate growth across the industrial chain, boosting strategic industries such as life science technology and artificial intelligence, and facilitating cross-border flows of innovation and cooperation, Hong Kong Chief Executive John Lee Ka-chiu said during the opening of the Hong Kong Park last month.

The HKSAR government will provide policy support and essential infrastructure to facilitate seamless travel for researchers between Hong Kong and Shenzhen, including a footbridge across the Shenzhen River connecting the two parks, the CE added.

Talking about the under-construction cross-river bridge, Choi said on Saturday that firms will have to draw up a list of staff able to go freely between the two places to ensure that talent from the two cities will be able to use the bridge with the "right facilitation, facilities, and measures.”

The flow of people will be as free as possible in compliance with the laws and regulations of both governments and firms, he added.