Hong Kong · China · Crypto Briefing
Hong Kong’s data center ambitions face slow start amid funding challenges
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
◎ Multiple-sources
The city's flagship AI infrastructure project attracted one bidder, and that company now needs $2.6 billion in loans that bankers aren't rushing to approve.
Key facts
- The company is now pursuing roughly HK$20 billion, or about $2.6 billion, in short-term bank financing
- The company secured a 50-year land grant in March 2026 for an estimated HK$23.8 billion project designed to deliver up to 250,000 square meters of gross floor area
- Hong Kong’s existing data center capacity stood at approximately 687 MW as of Q1 2026
- Range Intelligent Computing Technology Group, a mainland Chinese company, was the only firm that raised its hand, committing an investment of approximately HK$24 billion
Summary
The city’s Sandy Ridge Data Facility Cluster, the centerpiece of its Northern Metropolis development strategy, launched its initial tender process between October and December 2025. Range moved quickly after winning. But building a data center of that magnitude requires capital that Range doesn’t appear to have sitting in a bank account. Concerns center on Range’s repayment capacity and the challenges inherent in developing in a remote location that currently lacks the infrastructure to support it.