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Demand for virtual land heats up in property-mad Hong Kong

Real estate tycoon lays out plans for digital Mega City to drive future growth

HONG KONG -- Hong Kong's sky-high property prices are usually the talk of the town, but the buzz these days is about real estate that you won't find anywhere in the glitzy financial hub: virtual land.

Prices for land that exists only in the digital world are soaring on the back of broader interest in the metaverse, a concept championed by Microsoft and Facebook -- recently renamed Meta -- which envisions a future where people interact as avatars in the virtual realm.

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