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by Cheryl Tay
The Sino-Singapore Guangzhou Knowledge City (GKC, pictured), Singapore’s third major tie-up with China, has received strong interest from companies which signed 10 agreements and memoranda of understanding (MOUs) for million-dollar investments.
The 123 sq km industrial park will include an energy-efficient hospital by electronics giant Siemens, as well as New Zealand-based Huhu Studios’ movie production studio and training centre.
Additionally, Swiss company AGT International has committed to help install sensors and run software that will aid with public safety in the area, such as crime management and flood control.
“The pipeline of companies looking at investment opportunities in GKC is fairly healthy,” said Tay Hun Kiat, Chief Executive of GKC.
He noted that although some companies are still taking their time to make investment decisions, interest remains strong due to GKC’s location.
“China is the fastest growing economy, it may slow down, but it is still a choice location for investment. And Guangzhou is one of the top three coastal cities in China.”
Prior to the new signings, GKC already had 21 on-going projects and 69 commitments from 2010. For instance, Singapore developer Ascendas is now building a business park in the area.
Once completed by 2030, GKC expects to have 1,000 companies that will provide 250,000 jobs for 500,000 residents.
GKC is developed by Sino-Singapore Guangzhou Knowledge City Investment and Development, which is a 50-50 joint venture (JV) company between Guangzhou Development District Administrative Committee and Temasek Holdings-owned Singbridge International Singapore.
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