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| On the fast track as Asia's trade fair capital ( 01/09/2005 ) | |||||||||
The Trade Development Council (TDC) will start the project in January 2006, creating 40 per cent more exhibition space that is urgently needed for the waterfront world-class venue which has housed many top international exhibitions and conventions. "Now, Hong Kong's mega trade fairs will have further room to grow. Not only will they stay on top in Asia but several could become number one in the world for their industries," said TDC Chairman Peter Woo. To be completed by early 2009, the HK$1.3 billion (US$167 million) extension will be built without any land reclamation and almost within the CEC's existing envelope. Mr Woo noted that the present facility was bursting at the seams during peak trade fairs, with long waiting lists of exhibitors from around the world. Meanwhile, other cities in the region had built vast new fairgrounds to compete directly with Hong Kong. "We haven't a moment to lose as trade fairs are a winner-take-all business. They're about building critical mass in your marketplace faster than your competitors." It is estimated the new CEC extension will bring more than HK$40 billion (US$5 billion) in additional benefit to Hong Kong in the first 15 years after completion, not counting business orders at trade fairs. The project will add 19,400 square metres of exhibition space, enabling CEC to accommodate 1,000 more booths. Related links
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