Global knowledge economy placed innovation at the heart of urban
development as innovation clusters of cities significantly contribute to
the economic and societal development of these locations. A knowledge
precinct is in most cases an urban cluster that knowledge is generated,
exchanged and marketed by talented knowledge workers. The contemporary
practice moves from work focused knowledge precincts—e.g., science and
technology parks, innovation parks—multi-activity focused knowledge
community precincts—i.e., work, live, play, and cyber. The term is used
interchangeable to the popular innovation districts or knowledge or
creativity hubs. This chapter concentrates on the theory and practice of
knowledge precincts and generates useful information to improve our
understanding on this new land use form.