It is reported that Hengqin will build an industrial park focusing on life sciences, health products, food, biomedicine and medical devices. An announcement Hengqin Island Innovation Industrial Park Development and Construction Co., Ltd. (Hengqin IDC) acquired 116,000 square meters of land dedicated to the park through auction on Monday.
The company now intends to use the land to develop a 400,000 square meter campus building, including production space, employee accommodation and a conference center. It is expected that more than 5,500 people will live and work in the park.
Located on Qinghai West Road, Hengqin, the new development is expected to significantly boost the development of Macau’s technology and life science sectors, and form a cluster with similar sites in the region, including Chinese medicine technology industrial area and Hengqin Science City.
[See more: Hengqin is now building its ‘science city’]
The Hengqin IDC said in a statement that the project will provide high-quality, low-cost production space, which will help promote the development of Macau brands and help Macau solve the problem of lack of suitable manufacturing and production sites.
According to the bidding terms, Hengqin IDC Required Attract qualified Australian-funded enterprises to settle in and ensure that the park’s occupancy rate is no less than 80% within 5 years of its operation.
A completion date for the new industrial park has not yet been announced, but Hengqin IDC noted that preliminary work is already well underway.
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