With rumors of technology companies feeling the financial sting of the ongoing protests in Hong Kong, one key government landlord is giving a helping hand to startups.
Cyberport, a Hong Kong government property located on the south side of Hong Kong island, is known as an inexpensive location for tech startups to setup shop. Though the property is inaccessible by the territory's MTR underground system, it still attracts a keen set of companies happy to trade off the transportation headaches with the much lower rent.
Now rents are even lower. In a letter seen by ChinaTechNews.com today, a memo from Chief Corporate Development Officer Stella Kwan has been circulating to tenants of Cyberport with an important cost reduction message. Kwan says Cyberport will "grant a 50% concession on rental for a period of six months with effect from Oct 2019" to some of the lucky co-working and shared office space tenants at Cyberport.
Kwan says this hopefully can "help ease the financial and operation pressure" many technology companies have felt in recent weeks.