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Space sharing scheme unveiled

October 27, 2017

The Government has announced about 90,000 sq ft of shared working space will be available to start-ups, young entrepreneurs and artists to nurture the city's emerging and creative industries.


Introducing the first phase of the Space Sharing Scheme for Youth in a press conference today, Chief Secretary Matthew Cheung said 10 building owners have agreed to rent out space in 10 revitalised industrial or commercial buildings.


The rent for young people will be no more than half of the market price.


The initiative was introduced in Chief Executive Carrie Lam’s Policy Address earlier this month.


Available spaces are located in Kwun Tong, Tsuen Wan, Wong Chuk Hang, Lai Chi Kok and Wan Chai.


They will be managed by NGOs or will be directly operated by participating owners, providing flexible leases, diverse spaces, and guidance to the young tenants.


Mr Cheung said the major problem for youngsters and start-ups is they cannot afford Hong Kong’s high rent.


“This scheme will certainly provide a much-needed platform for them - affordable rental, convenient locations."


He added the whole idea behind co-working space is to be interactive and collaborative.


“We also require the organisations concerned to provide mentorship support, mentorship really, and also help them to understand market situation, and also enable them to network.”


The Government expects the scheme will open for application in the first half of 2018, with more than 1,000 young entrepreneurs and artists set to benefit from the initiative.

The Chief Executive's 2017 Policy Address