Tencent's ambitious "Internet Plus Future Tech City," nicknamed "Penguin Island" because of the company's penguin logo, is rapidly taking shape, with the project's first phase set to be completed by the end of this year, Shenzhen Economic Daily reported.
Located in the Dachan Bay area, this innovative development aims to integrate cutting-edge technology with modern living and working environments, thereby positioning itself as a global technological landmark.
Officials from Bao'an District provided updates on the project's progress during a news briefing earlier this month, the newspaper reported.
A reporter from the newspaper visited the construction site Sunday and noticed that the striking buildings, reminiscent of UFOs, have now revealed their actual form.
The distinctive design evokes imagery from a science fiction film and exudes a profound essence of advanced technology. Workers at the site indicated that many of the buildings in the initial phase have reached structural completion, with exterior enhancements currently underway. Landscaping efforts, including planting greenery near the employee dormitories, have also begun.
The futuristic hub will feature offices, residential areas, and ample green spaces across the reclaimed land along the Pearl River. Offering dedicated spaces for advancements in cloud technologies, educational technology, and other facets of the "Internet Plus" ecosystem, the project aims to redefine urban living and working paradigms.
Tencent's acquisition of the Dachan Bay plot in Bao'an District for 8.52 billion yuan (US$1.17 billion) in 2019 marked the inception of the project, with construction officially commencing in 2021. With an estimated investment of 31.9 billion yuan, the sprawling development spreads across an area of 809,000 square meters and includes a total indoor area of 2 million square meters, equivalent to 114 soccer fields.
Prominent financial analyst Liu Xiaobo, who is closely monitoring the project's development, compared Tencent's "Future Tech City" to iconic global headquarters such as those of Apple and Google. Liu anticipates an influx of high-caliber talent and high-value industries into the region.
Liu Zhanguo, an expert at the Research Institute of Tsinghua University in Shenzhen, echoed this sentiment, emphasizing Tencent's pivotal role in bolstering the industrial landscape of Bao'an with an innovative ecosystem focused on software and information technology services.
As Tencent's "Penguin Island" continues to take shape, the surrounding areas are also undergoing significant transformations to align infrastructure and amenities with this visionary development in the Dachan Bay area, the report said.