25.06.2019 | By Arlinda Sipilä

The Construction Innovation and Technology Fund (CITF) of Hong Kong has selected MagiCAD as one of software vendors with proven effectiveness in boosting construction project productivity

 

  • CITF is setup by the Financial Secretary of Hong Kong to boost the capacities of enterprises and practitioners in the construction industry
  • The CITF will be used to encourage the construction industry to use new and proven technologies developed within or outside Hong Kong. The CITF has a total of HK$1 billion funding

MagiCAD was included in the CITF’s shortlist of technologies (including machinery, equipment and software) with proven effectiveness in boosting productivity, uplifting built quality, improving site safety or enhancing environmental performance, through leveraging automation, industrialization and digitization.

A list of the construction projects that have been pre-approved by CITF can be found online and companies can apply for funding on CITF’s web site.  Depending on the type of the relevant approved project, successful applicants will be reimbursed by the CITF either on co-funding basis (i.e. the CITF will bear a maximum of 70% of the total costs of the approved project or the applicable funding cap, whicever is lower) or by way of cash rebate. [1]

About CITF [2]

The Financial Secretary proposed to set up a HK$1 billion Construction Innovation and Technology Fund (CITF) to boost the capacities of enterprises and practitioners in the construction industry. The Development Bureau of the Hong Kong Special Administrative Region Government (DEVB) commissioned the Construction Industry Council (CIC) to be the implementation partner.

The CITF is established to encourage wider adoption of innovative constructive methods and new technologies in the construction industry with a view to promoting productivity, uplifting built quality, improving site safety and enhancing environmental performance. The CITF is dedicated to:

  1. Encourage wider adoption of innovative construction methods and technology in the construction industry (in short, technology adoption), and
  2. Build up the capacity of industry practitioners (ranging from skilled workers to professionals ) and tertiary students of construction-related disciplines to build an innovative culture and foster the mind-set to espouse new technology for the continuous improvement of the industry (in short, manpower development).

[1] Source:
http://www.cic.hk/files/page/269/
CITF%20Terms%20and%20Conditions_(ME%2001.2019)_Eng.pdf

[2] Source:
https://www.citf.cic.hk/en/?route=background

 

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