Richard Li
The government's decision in granting the project to Pacific Century Group (PCG) controlled by Richard Li, son of Hong Kong's wealthiest man Li Ka-shing, to develop the site generated much controversy. Awarding the project to PCG without a formal open tender attracted criticism for lack of transparency; other interested developers complained of being sidelined. Three private and wholly owned companies, namely, Hong Kong Cyberport Development Holdings Limited, Hong Kong Cyberport Management Company Limited and Hong Kong Cyberport (Ancillary Development) Limited (collectively referred to as the "Cyberport companies") were set up under the Financial Secretary Incorporated (FSI) to oversee implementation of the project. The project was criticised as unnecessary government intervention in the real estate sector.