Kerala Tourism has stepped up its outreach to Gulf travellers at Arabian Travel Market 2026 in Dubai, using the four-day trade fair to present the state’s backwaters, wellness products, culture, nature and adventure experiences to buyers and industry partners.
Tourism Minister P. C. Vishnunadh visited the Kerala pavilion at the Dubai World Trade Centre and met UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri as the state sought to deepen engagement with one of its most important overseas visitor markets. He was accompanied by Tourism Secretary Biju K.
Vishnunadh said the Middle East remained significant for Kerala because of the state’s longstanding links with the UAE and the region’s importance to its tourism economy. He said Arabian Travel Market provided an opportunity for tourism businesses to understand changing demand, identify emerging opportunities and present packages designed for Gulf travellers.
Kerala Tourism said 26,255 visitors from the UAE travelled to the state in 2025, underlining the market’s value as it looks to expand international arrivals and strengthen demand beyond peak seasons.
The state’s 69-square-metre pavilion, carrying the theme “Green Peace – Yalla Kerala”, used imagery of hill stations and green landscapes alongside displays promoting established and emerging tourism products. The presentation placed emphasis on Kerala as a year-round destination, with Ayurveda and wellness, beaches, backwaters, cultural experiences and adventure travel forming key parts of the pitch.
Vishnunadh also met Sudhir Sreedharan, senior vice-president of flydubai, and officials of the Dubai Police Authority during his visit. The meetings came as Kerala Tourism used the event not only for destination promotion but also for business networking with airlines, tour operators and travel-sector partners.
Six tourism businesses from Kerala joined the pavilion as co-exhibitors: Kairali – The Ayurvedic Healing Village in Palakkad, The Elephant Court in Thekkady, Somatheeram Ayurveda Group, Intersight Tours and Travels, Santamonica Tours and Travels, and Gateway Malabar Holidays. Their participation gave buyers access to accommodation, wellness and tour products directly from operators.
Arabian Travel Market 2026, held from September 14 to 17, brought together tourism authorities, airlines, hospitality companies, tour operators and other travel businesses from the Middle East and overseas markets. Organisers positioned the 33rd edition as a platform for commercial partnerships, destination marketing and discussion of travel trends.
The UAE used ATM to launch “Visit UAE”, its first unified federal tourism identity, bringing the seven emirates under a single national tourism platform. Abdulla bin Touq said the initiative was intended to present the country as an integrated destination and support stronger cooperation across tourism.
Kerala’s Gulf-focused campaign extended beyond the exhibition floor. At a Kerala travel meet in Dubai built around the same “Green Peace – Yalla Kerala” theme, officials and private-sector participants held business-to-business meetings with UAE-based buyers.
Tourism Secretary Biju K presented Kerala’s destination portfolio and invited travel-industry representatives to Kerala Travel Mart 2026, while the state highlighted its appeal across leisure, wellness, culture and nature-based travel. The engagement was designed to convert destination visibility into business links with tour operators and distributors serving Gulf customers.
Kerala has been placing greater emphasis on the Arab market because demand from the region often overlaps with the state’s monsoon and shoulder seasons, when Ayurveda, wellness and nature-based travel can help spread visitor flows more evenly through the year.
That approach also reflects growing competition among destinations for Gulf travellers, who have access to extensive direct and one-stop air connectivity through Dubai, Abu Dhabi, Doha and other regional hubs. Kerala’s strategy at the fair focused on product differentiation rather than a single tourism segment, combining established attractions with experiential offerings.
The Maldives also maintained a presence at the Dubai event, with 165 industry representatives from 74 tourism companies participating alongside official tourism bodies. Its delegation used the fair to pursue airline partnerships and destination marketing agreements aimed at improving connectivity and widening market reach.
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Best Things to Do in Bangkok This Golden Week: Discover Authentic Thai Cuisine, Luxury Shopping, Cultural Experiences and Iconic Chao Phraya River Attractions at ICONSIAM
BANGKOK, THAILAND – Media OutReach Newswire – 18 September 2026 – As Golden Week inspires millions of travelers across Asia to embark on international journeys, ICONSIAM, the global landmark on the Chao Phraya River, is inviting visitors to discover why Bangkok continues to rank among Asia’s most revisited destinations, offering an unrivaled blend of luxury shopping, cultural immersion, world-class gastronomy and distinctive riverside experiences in one destination.
ICONSIAM_ A Global Landmark Along the Chao Phraya River
As travel trends shift from traditional sightseeing toward more immersive and experience-led journeys, destinations that offer a strong sense of place and a diverse range of experiences are increasingly capturing the attention of global travelers. In this landscape, ICONSIAM embodies The Best of Thailand Meets the Best of the World, bringing together the country’s cultural heritage, creativity and craftsmanship with international luxury, gastronomy and lifestyle. Set along the historic Chao Phraya River, ICONSIAM offers visitors a distinctive perspective on contemporary Thailand, where the country’s traditions and global influences come together in one iconic waterfront destination.
SOOKSIAM_ Thailand’s first co-creation space to empower local communities from all 77 provinces of Thailand across the nation’s four regions
“Today’s travelers are looking for destinations that offer a deeper connection to the places they visit—experiences that are authentic, memorable and meaningful,” said Mrs. Suma Wongphan, Executive Vice President and Division Head of Marketing at ICONSIAM Company Limited. “Bangkok has a unique ability to inspire repeat visits because there is always another side of the city to discover. As a Global Experiential Destination, ICONSIAM is proud to contribute to this appeal by creating a platform where visitors can experience the many facets of Thailand while enjoying the standards and diversity of a truly international destination. This Golden Week, we look forward to welcoming travelers from around the world and giving them even more reasons to make ICONSIAM a highlight of their Bangkok journey.”
A Culinary Journey Through Thailand and Beyond
Food remains one of the strongest motivations for travelers returning to Bangkok, and ICONSIAM offers a diverse culinary journey that reflects the city’s reputation as one of Asia’s leading gastronomic capitals. At SOOKSIAM on the G Floor, visitors can experience the atmosphere of Thailand’s floating market where visitors can explore the flavors of Thailand’s four regions through authentic cuisine. Beyond SOOKSIAM, ICONSIAM’s culinary offering extends from the acclaimed flavors of Nara Thai Cuisine and ThongSmith to beloved Thai favorites such as After You, Cha Tra Mue and Pang Cha, giving visitors the opportunity to discover the diverse tastes and culinary traditions that continue to make Bangkok a compelling destination for food lovers.
Complementing its retail and dining offerings are ICONSIAM’s signature riverside attractions along the legendary Chao Phraya River. Visitors can enjoy sweeping waterfront views, experience the spectacular ICONIC Multimedia Water Features Show (G Floor), marvel at the iconic Alangkarn Waterfall (6th Floor), and discover art exhibitions, cultural showcases and immersive attractions throughout ICONSIAM.
Discovering Thailand Through Creativity and Craftsmanship
For travelers looking to bring home a meaningful piece of Thailand, ICONCRAFT located on the 4th and 5th floors, offers a carefully curated showcase of contemporary Thai craftsmanship, artisan products and creative enterprises from across the country. The immersive retail concept celebrates local creativity while providing visitors with unique souvenirs and design-led products that reflect Thailand’s rich cultural heritage and evolving creative landscape.
Discover ICONLUXE, Home to Global Fashion Houses, Fine Jewelry and Prestigious Watchmakers
At the center of this offering is ICONLUXE, one of Southeast Asia’s premier luxury hubs, home to an extraordinary collection of internationally renowned luxury houses and flagship boutiques, including Bottega Veneta, Celine, Dior, Gucci, Hermès and Loewe, alongside prestigious jewelry and watchmakers such as Breguet, Bvlgari, Cartier, Chopard, Chaumet, Jaeger-LeCoultre, Omega and Patek Philippe. Complementing its luxury offering is an extensive selection of international lifestyle and fashion brands, including ALO, LOFT, MUJI, UNIQLO, ZARA as well as leading Thai wellness and fragrance brands such as Antidotes, PANPURI and THANN. Together, these offerings underscore ICONSIAM’s ability to curate an exceptional mix of international luxury, contemporary lifestyle and distinctive Thai brands, creating a destination that continues to elevate Bangkok’s position as a leading global shopping and lifestyle capital.
A destination of ‘firsts’ flagship store and ‘bests’ that brings immediate global attention to Bangkok
At the heart of Bangkok’s dynamic riverside lies ICONSIAM, a destination of “firsts” and “bests” that continues to attract global attention to Thailand. Recognized as Thailand’s Firstism Leader, ICONSIAM has introduced some of the world’s most sought-after first-to-Thailand brands and experiences, including the country’s first flagship Apple Store, Thailand’s first Blue by Alain Ducasse, a Michelin-starred restaurant by Alain Ducasse, and the POP MART BANGKOK ICONSIAM FLAGSHIP STORE, and HAUS NOWHERE Bangkok, the first HAUS NOWHERE destination in Southeast Asia, home to TAMBURINS’ first Southeast Asia store and Thailand’s largest Gentle Monster store. Together, these globally recognized brands and flagship experiences continue to reinforce ICONSIAM’s position as a leading destination where international culture, innovation, fashion and lifestyle converge on Bangkok’s iconic Chao Phraya River waterfront.
Exclusive Golden Week Privileges for Tourists visiting ICONSIAM
To make the Golden Week experience even more memorable, ICONSIAM is launching “Discover Thailand at ICONSIAM“, an interactive social media campaign taking place from 25 September to 7 October 2026 at the ONESIAM Global Visitor Lounge (1st Floor). International visitors are invited to share their favorite moments at ICONSIAM, from food and cultural discoveries to shopping finds, local craftsmanship and iconic riverside experiences, by posting at least 2 original photos or 1 video on social media. Participants who complete the challenge will have the opportunity to play a capsule machine and receive complimentary Thai-inspired souvenirs, including ICONSIAM’s exclusive scarf, ICONCRAFT’s Thai-Inspired Mini Bag, handheld electronic fan, bracelet and a Siam Gift Card voucher. The campaign is designed to encourage travelers to explore, experience and share the many dimensions of Thailand that come together at ICONSIAM.
As Bangkok continues to attract travelers seeking meaningful, experience-led journeys, ICONSIAM stands at the heart of the city’s appeal, offering an unparalleled blend of shopping, dining, culture and riverside experiences. This Golden Week, visitors are invited to discover why Bangkok remains one of Asia’s most beloved and revisited destinations, and to experience the very best of modern Thailand in one extraordinary destination.
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The model supports multimodal inputs including text, images and video, and generates high-fidelity 1080p videos of 5 to 20 seconds with natively synchronized audio
BEIJING, CHINA – Media OutReach Newswire – 17 September 2026 – HiDream.ai, an AI company specializing in foundation models and generative AI, announced the launch of HiDream-O1-Video-1.0, or HiDream V1, its native omnimodal video generation model.
Designed around a deeper understanding of creative intent and real-world physics, HiDream V1 supports multimodal inputs including text, images and video. It can generate high-fidelity 1080p videos ranging from 5 to 20 seconds, with enhanced narrative planning, character consistency, physical plausibility and audiovisual synchronization.
In its debut on two independent international benchmarks, HiDream V1 ranked No. 4 globally on the Artificial Analysis Image to Video Leaderboard (With Audio) and No. 8 on the Arena.ai Image-to-Video leaderboard, placing it among the world’s leading video generation models.
A Strong Debut on Two International AI Benchmarks
Artificial Analysis independently evaluates leading AI models through standardized and reproducible benchmark testing. Arena.ai uses anonymous head-to-head comparisons and user voting to assess model outputs. Together, the two platforms provide third-party perspectives on model performance based on both standardized testing and real-world user preferences.
HiDream V1’s results demonstrate its competitiveness across key dimensions including visual quality, prompt adherence, motion quality, narrative coherence and audiovisual coordination.
The global AI video generation market has become increasingly competitive, with models developed by Chinese teams—including Seedance and MiniMax H3—maintaining strong positions on international leaderboards. HiDream V1’s top-tier debut further expands China’s presence among the world’s leading video generation models.
“The next generation of video models will not be defined solely by higher resolution or longer duration,” said Yao Ting, Chief Technology Officer of HiDream.ai. “What matters is whether a model can genuinely understand a creator’s intent and how objects, actions and sounds interact in the real world. HiDream V1 was designed from the outset to represent text, video and audio within a unified framework. Our goal is to move video generation beyond simply looking sharp and moving smoothly toward understanding instructions, sustaining coherent performances and keeping sound aligned with visuals. Its performance on two independent international benchmarks provides encouraging validation of our native omnimodal approach.”
Upgrades in Visual Fidelity, Narrative Coherence and Character Consistency HiDream V1 introduces broad improvements in high-fidelity rendering, narrative continuity and character consistency. Rather than optimizing only for the quality of individual frames, the model is designed to maintain coherence across an entire video sequence.
Once characters, emotions, motivations and physical rules are placed within a continuous sequence, each element can affect the others. HiDream therefore uses a technical framework built around three stages: planning first, followed by joint generation, and then alignment through multimodal reward signals.
Under this approach, the model first plans the narrative and character states at a global level. It then jointly constrains visuals, movement and semantics during generation, before using multimodal reward signals to align visual quality, continuity and physical plausibility.
Native Omnimodal Architecture for Better Intent and Physics Understanding The central challenge in AI video generation is shifting from the quality of individual frames to a broader understanding of complex instructions, continuous motion and the rules governing the physical world.
User prompts often contain multiple layers of information, including characters, actions, settings, camera directions, dialogue and sound. To handle these requirements more effectively, HiDream V1 incorporates multimodal intent understanding and planning. Before generation begins, the model structures the user’s request across elements such as shot duration, setting, character state, movement, facial expression, composition, camera motion, dialogue and ambient sound.
Through this “understand, plan and generate” workflow, HiDream V1 plans narrative development and character states at a global level, while coordinating visuals, motion, semantics and audio during generation. This is designed to improve content completeness, character consistency and continuity between shots.
Physical reasoning is another core capability of HiDream V1. The model incorporates factors such as gravity, inertia, collisions, deformation, materials, lighting and spatial continuity into the generation process. As a result, object movement, character actions and environmental responses can more closely reflect the behavior of the real world.
This approach moves video generation beyond reproducing visual appearances and toward modeling how a dynamic world operates over time.
Content-Adaptive Video Duration Most current video generation models require users to specify a fixed duration in advance, forcing the content to fit within a predetermined time window. This can lead to unnecessary pauses after an action has ended or the use of slow motion to fill the remaining time.
HiDream V1 instead incorporates duration into its narrative planning process. Within a range of 5 to 20 seconds, the model can determine an appropriate video length based on how an event unfolds, how long an action takes to complete and the pacing required by the content.
The capability is not simply a matter of adding or removing frames. It is designed to make duration serve the narrative, producing more natural pacing and more complete sequences. Users can focus on describing the event and intended outcome, while the model plans the corresponding temporal structure.
Joint Modeling of Text, Video and Audio
Conventional AI video generation systems often follow a staged workflow in which visuals are generated first and sound is added afterward. This can lead to mismatches between lip movements, physical actions, ambient sound and sound effects.
HiDream V1 uses a native omnimodal architecture to jointly model text, video and audio signals. The three modalities constrain and inform one another within a single generation process. Visual motion influences sound timing, dialogue and sound effects contribute to the emotional tone of a scene, and text conditions guide the generation process throughout.
This unified approach is designed to improve synchronization across character performance, environmental changes and physical actions.
During post-training, HiDream uses Diffusion Reinforcement Learning and a multimodal reward model aligned with human perception and aesthetic preferences. Generated content is evaluated across multiple dimensions, including visual quality, semantics, motion, physical plausibility and sound, helping improve overall consistency and realism.
Completing HiDream’s Native Omnimodal World Model Portfolio HiDream V1 is not a standalone model. It is a core component of HiDream’s native omnimodal world model strategy.
Built on a unified UiT, or Unified Transformer, foundation, the company’s portfolio now comprises four major model families:
HiDream-O1-Image, for image understanding and generation;
HiDream-O1-Video, for dynamic content generation and temporal storytelling;
HiDream-O1-World, for 3D environment simulation and real-time interaction; and
HiDream-O1-Embodied, for spatial reasoning, action planning and feedback in embodied AI.
Rather than operating as four separate technology stacks, the models are designed to evolve from the same unified architecture. Together, they cover spatial understanding, temporal modeling, 3D interaction and embodied action, creating an integrated system for perceiving, understanding, generating, interacting with and acting upon the physical world.
HiDream’s models have previously achieved leading results on several independent benchmarks. HiDream-O1-Image 1.5, the commercial version of the company’s image model, ranked No. 2 globally and No. 1 among Chinese models on the Artificial Analysis text-to-image leaderboard, while its open-source edition also reached No. 2. HiDream-O1-World ranked No. 1 overall on WBench, a benchmark for interactive world models. HiDream-O1-Embodied achieved first-place results in the disturbance adaptation and spatial reasoning categories of RoboColiseum.
“We are not building four isolated model product lines,” said Dr. Mei Tao, founder and CEO of HiDream.ai. “We are building a native omnimodal system that shares a unified technical foundation and continues to evolve toward a deeper understanding of the real world. Competition among the next generation of foundation models will depend not only on improvements in individual capabilities, but also on whether different modalities can understand, generate and interact within a unified architecture.”
From understanding and generating the world to simulating and acting within it, the launch of HiDream V1 completes a key part of HiDream’s native omnimodal world model portfolio.
HiDream Completes Series C+ Financing
Alongside the launch of HiDream V1, HiDream announced the completion of a Series C+ financing round backed by New Micro Capital, Jiaozi Capital and ICBC Capital. The proceeds will support native omnimodal model research and development, product iteration, AI computing infrastructure and the expansion of industry applications.
New Micro Capital was jointly established by Shanghai New Micro Technology Group, Shanghai Science and Technology Venture Capital Group and its management team. The firm manages nearly RMB 10 billion in assets.
As the corporate venture capital arm of New Micro Technology Group, New Micro Capital is expanding its investments in artificial intelligence. Drawing on the group’s industrial capabilities in specialty integrated-circuit manufacturing, it seeks to advance collaboration across AI infrastructure, model technologies and end-user applications.
Jiaozi Capital is a wholly owned state-backed equity investment platform under Chengdu Jiaozi Financial Holding Group. The firm focuses on artificial intelligence and other strategic technology sectors, using long-term capital and industrial resources to accelerate technology commercialization and ecosystem development.
With the launch of HiDream V1, HiDream’s native omnimodal world model strategy is moving from a technical roadmap toward an integrated system supported by a unified foundation, a coordinated model portfolio and deployable product capabilities.
Availability
HiDream V1 is currently in internal testing and is expected to become available in the near future. Users can learn more at: https://hiharness.ai/
Hashtag: #HiDreamAI
The issuer is solely responsible for the content of this announcement.
About HiDream.ai
HiDream.ai is an artificial intelligence company focused on generative AI and native omnimodal world models. Built on its unified UiT architecture, the company’s model portfolio spans image generation, video generation, interactive world simulation and embodied intelligence. HiDream aims to develop AI systems capable of understanding, generating, simulating and acting upon the real world.
Leaderboard disclaimer: Rankings cited in this release reflect publicly available results at the time of publication and may change as participating models, evaluation data or platform methodologies are updated.
PayitFast has signed a memorandum of understanding with Dubai-based luxury travel company Zameera to give members access to curated high-end journeys through Verati, its lifestyle and concierge platform. The agreement, announced in Dubai on September 16, brings Zameera’s travel portfolio into the PayitFast ecosystem, extending the digital payments company’s member offering beyond financial services. The companies said the first selection will include a private safari camp in […]
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Response by KK Chiu, International Director, Chief Executive, Greater China, Cushman & Wakefield:
Optimising the Housing Ladder and Improving Living Conditions
We welcome the Government’s commitment to increase housing supply, shorten the Composite Waiting Time for public rental housing and further strengthen the housing ladder. The adoption of a long-term housing supply framework comprising 40% public rental housing, 30% subsidised sale housing and 30% private housing, together with the delivery of approximately 196,000 public housing units over the next five years, will provide a clearer housing and homeownership pathway for different income groups.
We believe that increasing the supply of subsidised sale housing and enhancing the housing ladder will help more public housing tenants progress towards homeownership, accelerate housing mobility and enable families with genuine housing needs to gain access to public housing more quickly.
We support the Government’s efforts to increase public housing supply, continue the Light Public Housing programme and implement the Basic Housing Units regime in an orderly manner to phase out substandard subdivided units. This approach is consistent with our long-held view that increasing housing supply is the fundamental solution to improving inadequate housing conditions. With the Government targeting the resolution of substandard subdivided units in domestic buildings by 2030, we expect living conditions for grassroots households to improve progressively.
Urban Renewal Incentives
We support the Government’s more flexible approach to urban renewal, including transferable plot ratio arrangements and measures to unlock redevelopment potential. These initiatives will help enhance market participation, accelerate renewal in areas with pressing redevelopment needs and contribute to overall housing supply growth. We recommend the Government provide clearer guidance on application requirements and further streamline cross-departmental approval procedures to facilitate implementation.
Advancing the Yacht Economy
We welcome the Government’s continued efforts to promote the yacht economy. Beyond increasing marina berth supply and enhancing supporting infrastructure, we believe it is equally important to further facilitate cross-boundary initiatives, allowing greater mobility of yachts within the Greater Bay Area and fostering regional collaboration.
As more superyachts and high-net-worth visitors arrive in Hong Kong, demand is expected to rise across luxury tourism, hospitality, food and beverage, retail, marine services and waterfront commercial facilities, helping unlock the economic potential of Hong Kong’s coastline and island resources. At the same time, Hong Kong has the potential to develop a more comprehensive marine industry ecosystem encompassing yacht repair and maintenance, refitting services and specialised professional services. The development of a holistic marine services value chain will further strengthen Hong Kong’s competitiveness as a regional and international yachting hub.
Response by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:
Planning Ahead for AI and Data Centre Infrastructure
We welcome the Government’s commitment to accelerate the development of the Sandy Ridge Data Facility Cluster, which is expected to provide computing power equivalent to 36 times Hong Kong’s current capacity by 2032, alongside a HK$1 billion injection into the Artificial Intelligence Subsidy Scheme. These initiatives will provide important support for the development of Hong Kong’s artificial intelligence and data centre sectors, further strengthening the city’s position as a regional digital and innovation hub.
However, with rapid advancements in artificial intelligence, large language models and cloud computing, demand for computing power is expected to grow significantly in the coming years. We believe that, in addition to planning data centre sites, the Government should proactively review long-term requirements for power supply, electricity grid capacity and related infrastructure. As AI adoption becomes more widespread, access to reliable power and supporting infrastructure will be a key factor in maintaining Hong Kong’s competitiveness as a technology and data centre hub.
We support the Government’s stated direction of pursuing “high-efficiency computing power, stable electricity supply and low-carbon transition”. Looking ahead, we recommend that the Government regularly review future demand for land, power supply and supporting infrastructure arising from the growth of artificial intelligence and data centre activities, particularly within the Northern Metropolis and other strategic development areas. A coordinated approach to computing, energy and digital infrastructure planning will help attract more data centre operators and technology companies to Hong Kong, while supporting the city’s long-term development as a regional hub for data and artificial intelligence.
Response to the Budget 2026/2027 by Rosanna Tang,Deputy Managing Director, Head of Research, Hong Kong, Cushman & Wakefield:
Clear Industry Positioning for the University Towns
We welcome the Government’s efforts under Hong Kong’s First Five-Year Plan to further define the positioning of the three university towns in the Northern Metropolis University Town, and are encouraged by its strategy to promote synergy among the university towns, the San Tin Technopole and surrounding industry parks. As the only city in the world with five universities ranked among the global top 100, Hong Kong possesses a strong foundation in higher education and research. At the same time, the San Tin Technopole is set to become a key innovation and technology hub. The complementary strengths of these two pillars, both geographically and strategically, provide a solid foundation for building a globally competitive innovation ecosystem in Hong Kong.
We are particularly encouraged by the Government’s emphasis on integrated industry-academia-research collaboration. The university towns should not be viewed merely as educational developments, but as strategic platforms for research commercialisation, international talent attraction and the cultivation of emerging industries. Closer collaboration among universities, research institutes, innovation and technology enterprises and industry parks will help establish a complete innovation value chain covering talent development, scientific research, technology transfer and industrial implementation.
In addition, the Plan proposes approximately 300 hectares of educational facilities as the core of the university towns, connected with adjacent strategic industry areas, distinctive conservation areas, sports and cultural facilities, and surrounding communities, bringing the overall development footprint to more than 1,000 hectares. Such a large-scale integrated education and industry development model is rare in Hong Kong’s urban planning history and clearly demonstrates the Government’s long-term vision of creating a knowledge-based city cluster and an international education hub in the Northern Metropolis.
Attracting Signature Industry Projects and Anchor Institutions to Enhance the Northern Metropolis’ Global Appeal
We welcome the Government’s efforts to establish differentiated industry positioning through the three university towns, while integrating key development nodes such as the San Tin Technopole, the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, the Hung Shui Kiu Industry Park and Ta Kwu Ling. This provides a clearer direction for industrial development in the Northern Metropolis and helps address long-standing market concerns regarding overlapping functions and unclear district positioning.
As highlighted in our previous research, we believe the next critical stage for the Northern Metropolis will be its ability to attract influential anchor institutions and leading enterprises. By bringing together universities, research institutes and industry leaders, Hong Kong can foster the clustering of businesses, talent and capital, gradually forming industry clusters with scale and international competitiveness. Hong Kong should also capitalise on its common law system, international financial centre status, intellectual property protection framework and global talent network by focusing on high value-added segments such as research and testing, intellectual property management, fundraising and listing activities, and international accreditation services. This will help Hong Kong establish an irreplaceable role within the Greater Bay Area industrial value chain.
Beyond strategic industries, we believe the Northern Metropolis could also explore internationally recognised and iconic industry projects to further enhance its global profile and attractiveness. For example, the Government may consider developing initiatives around new energy vehicles, smart mobility and advanced technologies, while exploring the feasibility of internationally recognised racing events, testing facilities or technology R&D platforms, such as those associated with Formula One. By leveraging motorsport-related economic activities and innovation-led development, Hong Kong could attract international automotive manufacturers, mobility technology companies and research institutions to establish regional headquarters, R&D centres or testing facilities in the city. This would in turn support the growth of engineering, intelligent transport, advanced manufacturing, tourism, hospitality, retail and convention and exhibition industries, further enriching the Northern Metropolis industrial ecosystem.
Accelerating Land Supply While Advancing Industries and Infrastructure in Parallel
We note that Hong Kong’s First Five-Year Plan proposes a significant acceleration in land and housing supply within the Northern Metropolis. Residential completions are expected to increase substantially from approximately 11,000 units during 2021/22 to 2025/26 to around 70,000 units during 2026/27 to 2030/31. Over the same period, the supply of “spade-ready sites” will rise from approximately 120 hectares to around 900 hectares, representing an increase of around 7.5 times. These figures demonstrate that the Northern Metropolis is transitioning from a planning and land formation phase to a new stage characterised by large-scale development, industrial implementation and population intake.
However, we believe the success of the Northern Metropolis should not be measured solely by the volume of land or housing delivered. As substantial residential, innovation and technology, and industrial sites come on stream, the focus should gradually shift from land supply to city-building. The Government should ensure the coordinated delivery of railway and cross-boundary infrastructure networks, industry parks, commercial facilities, public services and community amenities, while accelerating the introduction of leading enterprises and strategic industries to create sufficient, high-quality employment opportunities and achieve a genuine jobs-housing balance.
In particular, we believe the Northern Metropolis should be driven by industry-led development, with the San Tin Technopole, the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, the university towns and major industry parks serving as key growth engines. This would create a virtuous cycle in which industry attracts population, population supports consumption, and consumption drives urban development. Only through the coordinated growth of industry, talent, infrastructure and communities can the Northern Metropolis evolve from a large-scale land development project into a modern metropolitan district integrating industry, education, living and international exchange.
Response by Tom Ko, Executive Director, Head of Capital Markets, Hong Kong of Cushman & Wakefield:
New Opportunities for Student Accommodation Market
We welcome the Government’s initiatives to deepen Hong Kong’s development as an international hub for post-secondary education through the “Hong Kong: Your World-class Campus” campaign, expanded global student recruitment efforts and the extension of the Immigration Arrangements for Non-local Graduates pilot arrangement to graduates from Greater Bay Area campuses of Hong Kong universities. These initiatives will further enhance Hong Kong’s attractiveness to overseas students and talent while reinforcing the “Study in Hong Kong” brand.
We are encouraged by the continued progress of the Hostels in the City Scheme. The scheme has already received 41 confirmed applications, providing approximately 10,800 bed spaces and demonstrating strong market confidence in the long-term growth of Hong Kong’s education sector.
The scheme has opened up a new supply channel for converting commercial buildings into student accommodation. At a time when hotel conversion opportunities are becoming more limited as tourism continues to recover, it provides an alternative pathway for investors while helping unlock the value of underutilised commercial assets and meet rising demand for student housing. As the Government prepares to tender the first dedicated student hostel site, we believe purpose-built student accommodation will gradually emerge as a distinct and scalable asset class within Hong Kong’s real estate market.
To further increase supply, we recommend that the Government continue reviewing and refining approval procedures for student hostel conversions. Greater flexibility and streamlined processes, while maintaining appropriate safety and operating standards, would encourage wider market participation and support Hong Kong’s ambition to become a leading international education destination.
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (www.linkedin.com/company/cushman-&-wakefield-greater-china).
SUSE has enabled its enterprise real-time Linux platform for LF Energy’s SEAPATH architecture, giving electricity grid operators and equipment vendors a commercially supported operating system option for virtualised digital substations. The integration, developed with open-source engineering specialist Savoir-faire Linux, combines SUSE Linux Enterprise Real Time with Kernel-based Virtual Machine, or KVM, virtualisation and cluster support. SUSE said the work makes it the first enterprise Linux vendor to […]
Hong Kong has placed a global gold trading hub at the centre of its first five-year economic plan, using the market as an entry point to expand commodity trading and broaden international use of the renminbi.
The 2026-2030 plan, released on Wednesday, calls for an integrated gold ecosystem covering storage, trading, clearing, refining and related financial services, while encouraging more renminbi-denominated commodity products. The government said it would strengthen links with mainland exchanges and attract international investors as it develops the city’s role as a global offshore renminbi centre.
It describes gold as an asset and envisages a one-stop storage, trading and clearing centre.
The strategy gives formal five-year backing to a gold-market expansion already under way. Hong Kong began trial operations of a central clearing and settlement system for gold in July and plans to launch the system formally in the first quarter of 2027. The administration is also seeking to expand storage capacity, improve refining capability and support more gold dealers and financial institutions in establishing operations in the city.
The plan says Hong Kong will explore renminbi-denominated gold and commodity markets and deepen co-operation with the Shanghai Gold Exchange and Shanghai Futures Exchange. It also aims to increase the range of products priced in the Chinese currency and encourage the use of renminbi for pricing and settlement in spot commodity transactions.
Chief Executive John Lee’s administration has framed the programme as part of a broader effort to strengthen Hong Kong’s position as an international financial centre while aligning more closely with China’s national development priorities. The five-year plan also seeks to enlarge the city’s offshore renminbi business, improve liquidity support and expand the range of renminbi bonds and other financial products.
Hong Kong remains the world’s largest offshore renminbi market. The government said offshore renminbi lending reached a record 935 billion yuan in 2025, while renminbi bond issuance reached 1 trillion yuan for a second consecutive year. The new plan proposes a dedicated offshore renminbi liquidity provision mechanism and wider use of the currency in trade, investment, financing and government expenditure.
Gold is intended to provide the first platform for a wider commodities push. The government said Hong Kong would use its status as an approved delivery point in the London Metal Exchange’s global warehousing network to develop trading, risk-management and financing services across additional commodities.
Since Hong Kong joined the LME warehousing network in 2025, approved storage space has exceeded 60,000 square metres and metal inventories have risen above 20,000 tonnes, according to the government. Authorities plan to facilitate more LME-approved warehouses in the Northern Metropolis and introduce a half-rate tax concession for physical commodity trading to attract additional market participants.
The Hong Kong Exchanges and Clearing group also plans to announce details this year for new renminbi-denominated, physically settled gold futures contracts. The government said the contracts are intended to strengthen the currency’s role in precious-metal pricing and provide another channel for international investors to gain renminbi exposure.
Other measures include possible tax concessions for qualifying gold and commodity activities, additional insurance capacity for gold storage and trading, and support for an industry-led trade association. Officials are also examining tokenised warehouse-receipt financing and blockchain-based systems that would allow commodity inventories to be used more flexibly as collateral.
The administration has set a target of lifting Hong Kong’s gold storage capacity to more than 2,000 tonnes within three years. It is also encouraging internationally qualified refiners to establish or expand local operations, with government agencies assisting interested companies in identifying sites and navigating regulatory requirements.
Closer integration with mainland markets is another element of the strategy. The plan calls for wider market access between Hong Kong and mainland gold markets and further collaboration with the Qianhai Mercantile Exchange, including development of renminbi-settled commodity futures, options and spot products.
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