Tencent to Build Eco-Friendly Advanced Business New Town 'Net City' in Shenzhen, China

$5.7 Billion Investment... Exceeds Apple Cupertino Campus Construction Cost of $4.2 Billion

Ma Huateng, CEO of Tencent
[Photo by Reuters]

[Asia Economy Reporter Park Byung-hee] Tencent (Tengxun) Group, China's largest IT (Information Technology) company, is constructing a 132.6ha eco-friendly advanced new city for business use in Shenzhen, known as 'China's technology hub.'

According to the South China Morning Post (SCMP) on the 5th, Tencent began construction last month on 'Net City,' a 132.6ha business campus in the Dachan Bay area of Shenzhen, Guangdong Province. Tencent plans to invest a total of $5.7 billion (approximately 6.45 trillion KRW) in the construction of Net City. This exceeds the $4.2 billion (approximately 4.75 trillion KRW) spent on Apple's 'Cupertino' campus in California, USA.

Net City will include Tencent's new office buildings, residential facilities, schools, commercial facilities, parks, and public transportation infrastructure. Net City will be developed as a sustainable city by incorporating cutting-edge facilities such as distributed communication networks and eco-friendly infrastructure including mangrove forests. SCMP reported that Tencent's decision to build Net City as a sustainable, eco-friendly advanced new city was influenced by Chinese President Xi Jinping's '2060 carbon neutrality' declaration.

Earlier, on September 23 last year, President Xi declared in a virtual speech at the 75th United Nations General Assembly held at the UN Headquarters in New York, USA, that China would shift to a downward trend in carbon emissions by 2030 and achieve carbon neutrality by 2060. This was the first time that China, the world's largest carbon emitter, presented a concrete carbon neutrality goal on the international stage.

Jonathan Ward of the US-based MBBJ, who is in charge of designing the Net City project, said, "Net City is designed with a focus on nature and people rather than vehicles or machinery." He explained, "Nature-based elements will be widely used during the development process. For example, mangrove forests will be created along the coast to absorb rainwater and purify seawater."

According to NBBJ, sustainability is the top priority in the design of Net City. Solar panels will be installed on the roofs of buildings constructed in Net City, and sensors measuring various environmental indices will be installed throughout the area. Vehicle access will also be restricted. A green corridor connecting all areas within Net City will be created to facilitate convenient movement for pedestrians, bicycles, and autonomous vehicles.

Tencent completed the 'Tencent Seafront Tower,' consisting of two buildings of 50 and 39 floors connected by a skybridge, in Nanshan District, Shenzhen in April 2018, and three years after moving its headquarters there, it has now begun construction of Net City.

This content was produced with the assistance of AI translation services.