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Sino Land wins URA's Fuk Wing Street/Fuk Wa Street project

The Urban Renewal Authority (URA) today (Thursday) announced that a wholly owned subsidiary of Sino Land Company Limited, Falcon City Limited, has won the joint development contract for its Fuk Wing Street/Fuk Wa Street project in Sham Shui Po in a public tender exercise.

The Fuk Wing Street/Fuk Wa Street project was one of the three early launch projects for which land acquisition was commenced by the URA in March 2002. Covering a site area of about 14,900 square feet, it is expected to deliver a maximum gross floor area of about 111,700 square feet of residential floor area and about 22,300 square feet of commercial retail area upon completion in 2008. In addition, about 2,700 square feet of open space will be provided.

Sino Land is one of the 16 property developers who tendered for the joint venture project. Based on the recommendations of a tender review panel appointed by the URA Board, members of the Board agreed that the offer made by Sino Land has met all the tender requirements and, at the same time, represented the best benefit to the Authority.

The spokesman said the Authority was pleased to have the opportunity of entering into a joint venture with Sino Land, which has solid experience in delivering quality estate development in Hong Kong.