I am very sad Hong Kong loses out all the datacenter project to Singapore. all due to idiotic government and regulatory. and connection from hk to sg isn't exactly great either.
Isn't that due to geography? I suspect many customers want to have one dc for southeast Asia and Singapore is in a better location than HK, esp if you also want to serve Indian customers from there (and potentially Australians). Customers with higher East-Asian traffic are likely to also have presence in Japan. I'd suspect HK demand is very regional, i.e. for projects based in HK.
And in Reply to Google and AWS coming, they have been preannoucned and later postponed or canceled. So until they are actually up I am not putting too much faith into it. AWS wanted to set up in HK long time ago and due to whatever reason never started. Google purchased land in HK 5 years ago for building DC and later ( I think ) sold it off.
OVH came to HK in hope to establish its Asia DC, and due to some insane stupidity this is now in Singapore. Cloudflare could have had the Asia HQ in HK, and now it is in Singapore again. The point is, literally every single one turn to HK first and was hoping to start and do great here. HK lets them down every single time.