Fifty members saw firsthand how Hong Kong's flagship IT development project was progressing during a half-day tour to Cyberport on April 29.

Covering 24 hectares, Phase One of the HK$15.8 billion project at Telegraph Bay is scheduled for completion by the end of 2004. The main Cyberport building provides about 100,000 square meters of grade-A intelligent office space, 27,000 square metres of retail space, and a 173-room Le Meridian Hotel.

Betty Fung, Cyberport co-ordinator, told members during a briefing session that Hong Kong University will in September this year establish a software development school at the site to capitalise on Cyberport's advanced IT facilities.

The project's developer, PCCW, is also eager to attract more overseas companies to set up office in Cyberport, but stressed that IT-related firms, not supporting service firms, are needed to allow Cyberport to keep to its original vision of building an IT community. However, Ms Fung said support services may consider taking up commercial space in its three-storey shopping mall. Besides office space, the building also has an IT Street, which comprises shared facilities for tenants.

The ancillary residential development, as part of Phase Two, will provide 2,932 residential units which will be completed between 2004-2007.

Following the briefing, members toured the facilities and later paid a visit to Microsoft Hong Kong Ltd, where the company's managing director, Mark Phibbs, introduced the company's operations.