InvestHK expects 25 proptech firms to set up in Hong Kong this year
- Hong Kong attracted HK$273.7 million (US$35 million) of investments from 25 proptech companies from eight destinations last year, InvestHK says
InvestHK, the agency responsible for attracting foreign investment, said at least two dozen proptech companies are expected to set up in the city, after attracting HK$273.7 million (US$35 million) of investments from 25 companies in the sector last year.
These investments came from eight countries and regions. 12 companies from China set up in the city, followed by four from Australia and three from the United Kingdom. Companies from Germany, Macau, Singapore, Turkey and Pakistan were also among the investors.
These newly set up firms created 221 jobs, mainly engineers, technicians and architects, according to InvestHK.
“Hong Kong has a robust and mature infrastructure market, which helps attract companies to Hong Kong,” said Herman Tse Yu-man, InvestHK’s head of business and professional services, on Thursday.
The agency expects to attract a similar number of “relevant companies” this year as well, he added.
One of the companies that set up in Hong Kong was Architecture & Decoration Technology Group, which provides services using artificial intelligence and Big Data.
“We chose Hong Kong because we believe construction and decoration is an international business, and therefore, Hong Kong was our top choice as we want to build our business with the rest of the world,” said Isabella Zhong, managing director of Architecture & Decoration.
