A Chinese data center operator wants to borrow HK$20 billion, roughly $2.6 billion, to build what would become Hong Kong’s largest computing facility. Range Intelligent Computing Technology Group Co., listed on the Shenzhen stock exchange, is in early-stage discussions with banks to secure a one-year loan for the project.
The total estimated investment for the development sits at around HK$23.8 billion, or approximately $3 billion.
What’s actually being built
The project centers on the Sandy Ridge Supercomputing Hub, located in Hong Kong’s northern New Territories. Range Intelligent won the bid for the site, which falls within the emerging Northern Metropolis area, a sprawling urban development zone that Hong Kong’s government has been positioning as a future technology corridor.
The company has secured a land lease covering 116,365 square meters with a 50-year tenure.
Financing discussions are still at the preliminary stage. The company is weighing two primary structures: a syndicated loan, where multiple banks pool resources to fund the deal, or a series of bilateral agreements with individual banking institutions. Either route keeps the financing squarely in the traditional banking world, with no involvement of crypto tokens or digital assets.
Why Hong Kong, why now
The Northern Metropolis development, where Sandy Ridge is located, represents Hong Kong’s attempt to diversify beyond its traditional identity as a financial hub and establish itself as a genuine technology center. The Sandy Ridge Supercomputing Hub project marks one of the first considerable private-sector investments in the Northern Metropolis area.
For Range Intelligent specifically, the move represents a strategic expansion beyond its existing operations on the mainland. Building Hong Kong’s largest computing facility would give the company a footprint in a jurisdiction with different regulatory frameworks, stronger intellectual property protections, and easier access to international clients.
What this means for investors
A HK$20 billion loan request for a one-year term is notable for its sheer ambition. One-year loans of that size typically serve as bridge financing, meaning Range Intelligent likely plans to refinance into longer-term debt or secure additional funding sources once the project reaches certain milestones.
The risk lives in execution. Converting a 116,365 square meter land grant into a functioning supercomputing hub requires navigating construction timelines, securing power supply agreements, and landing anchor tenants, all while servicing billions in debt. The 50-year land lease gives Range Intelligent a long runway, but the one-year loan structure means the financial pressure starts immediately.