The Sandy Ridge Data Facility Cluster, a key part of Hong Kong's Northern Metropolis strategy, received only one bid during its tender process between October and December 2025. Range Intelligent Computing Technology Group, a firm from mainland China, committed to an investment of approximately HKD 24 billion.
In March 2026, Range secured a 50-year land grant for a project valued at an estimated HKD 23.8 billion. The facility is planned to cover 250,000 square meters and reach a computing capacity of 180,000 PFLOPS by 2032. The project is projected to generate HKD 4.6 billion in economic output over its first three years.
Range is currently seeking $2.6 billion, or roughly HKD 20 billion, in short-term bank financing to fund the development. This request represents one of the largest loan deals in Hong Kong for the year. Bankers have expressed concerns regarding the company's repayment capacity and the lack of existing infrastructure at the site.
As of Q1 2026, Hong Kong's total data center capacity was approximately 687 MW. Recent leasing activity in the region is heavily concentrated, with Chinese AI firms accounting for 90% of deals. This reliance on a single sector, combined with competition from hyperscalers like Alibaba, Tencent, and Baidu, complicates the market outlook.
