The company said that the new office will put it in a strong position to develop existing business relationships and pitch for work from the public and private sector.
The new business is called Sypro Management Hong Kong Limited and has an office in the China Resources Building in the Wan Chai business district on Hong Kong Island.
Sypro managing director Simon Huntsaid: “We are already providing services to several organisations in Hong Kong and we are looking to build upon these relationships and develop new ones on other projects throughout the region.
“The new office gives us a base to work from in the region. We can use it for client meetings and presentations. It’s in an impressive building in the heart of the main business district. This places us ahead of our competitors because we have a presence there as opposed to a faceless reseller arrangement with a local company.
“We have appointed a couple of local representatives who report to me and we will be looking to expand our operations in line with business growth.”
Sypro supplies software for the NEC3 suite of contracts. The contracts manage the relationship between construction companies and their clients to ensure projects meet time, quality and cost targets. The software has been used on more than 150 projects worth a total of more than £2.5bn.
In the past year, Sypro has secured three major contracts with China Light and Power, one of the largest power companies in the Asia-Pacific region, to help build a network of substations in Hong Kong. Sypro software is also being used on a £70m underground, stormwater storage scheme being carried out by the Hong Kong Government’s Drainage Service Department.
Hunt said: “We believe the NEC contracts are going to be used on an increasing scale by the Hong Kong Government and private sector businesses in the region. “It has been estimated that over the next five years, this could amount to more than £5 billion of projects being managed by the NEC.”
He added: “The main growth areas for Sypro are the UK, Europe and the Far East but the global potential is massive. “The NEC has the prospect of being the default contract for all forms of procurement in both the public and private sector. The World Bank has recently adopted the contracts to procure its professional services. That will have a positive impact on the global uptake of the NEC.”
Sypro, which is based in Melton, East Yorkshire, currently employs four people and is planning to appoint a sales and support team to tap into the growing demand for the NEC suite of contracts worldwide.