GOVT'S INTERESTS IN AWE TRANSFERRED

The Government today transferred all of its interests in AsiaWorld-Expo (AWE) to the Airport Authority, saying that the authority fully owns AWE now and the transfer will not bring any substantive change to the facility's daily operation.

Since AWE's inception, the authority has been one of the owners. It started to manage the facility from September 2018.

The Government emphasised that AWE will have better synergy with SkyCity and the entire Airport City under the authority's full ownership and management.

As per the Government's overall strategy to enhance and expand the infrastructure for hosting major events in Hong Kong, the authority will invest in AWE's expansion.

Upon completion, the facility will provide 100,000 sq m of rentable convention and exhibition space as well as a multipurpose indoor arena with a seating capacity of over 20,000 people to meet the demand for mega international convention and exhibition, entertainment and sports events.

The Government said: “Going forward, the authority through its full ownership of AWE is well placed to capitalise on its experience in managing convention and exhibition facilities, as well as the strategic value stemming from the development in the Airport City.

“All this will consolidate and strengthen Hong Kong's position as an international trade centre as envisaged under the National 14th Five-Year Plan.”

The Government added that it will continue to monitor AWE's operation and development.

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