China Overseas Land & Investment Limited wins URA Project for Development of Pak Tai Street / Mok Cheong Street in Ma Tau Kok
The Urban Renewal Authority (URA) today (Monday) announced that Longcross Limited, a wholly-owned subsidiary of China Overseas Land & Investment Limited, has won the contract for the development of Pak Tai Street/Mok Cheong Street Project in Ma Tau Kok by tender.
The project covers a total area of about 770 square metres. Upon completion, it is planned to deliver a total gross floor area of about 6,940 square metres for an estimated total of 92 residential units, together with the provision of commercial space of about 1,150 square metres. The URA intends to provide about 50% of the total number of residential units in the project with a saleable area of or less than 46.5 square metres, i.e. about 500 square feet.
China Overseas Land & Investment Limited is one of the seven tender submissions received for the above development project. The URA Board after careful consideration of all the tender submissions agreed that the offer made by China Overseas Land & Investment Limited met all the tender requirements and represented the best benefit to the URA.
A spokesman for the URA said URA was pleased to have the opportunity to implement the project with China Overseas Land & Investment Limited, which has solid experience in delivering quality developments in Hong Kong.