Hong Kong Data Center Dreams Hit Funding Roadblock

Hong Kong's ambitious plans to become a major data center hub have gotten off to a slow start, with only one bidder emerging for the Sandy Ridge Data Facility Cluster.

The project, which aims to provide up to 250,000 square meters of gross floor area and 180,000 PFLOPS of computing power by 2032, has been plagued by funding challenges. Range Intelligent Computing Technology Group, a mainland Chinese company, was the sole bidder for the HK$24 billion project.

The company has since secured a 50-year land grant in March 2026 and is now seeking roughly HK$20 billion in short-term bank financing to complete the development. Concerns have been raised about Range's repayment capacity and the challenges of developing in a remote location with limited infrastructure.