Eighteen Expression of Interest Submissions for Development of Sai Yee Street Project in Mong Kok received
The Urban Renewal Authority (URA) received a total of 18 Expressions of Interest for the development of Sai Yee Street project in Mong Kok when the invitation for submission closed today (Monday).
A tender review panel under the URA Board will shortlist qualified companies and invite them to submit tenders for the development. The tender exercise will take place in the near future.
The project with a site area of about 2,478 square metres is bounded by parts of Sai Yee Street, Nelson Street and Fa Yuen Street and situated in or near the cluster of sports retail outlets in Mong Kok, one of the key districts where redevelopment, rehabilitation and revitalisation initiatives of the Authority are being actively carried out.
Upon completion, it is expected to deliver a commercial gross floor area of about 4,956 square metres and a residential gross floor area of 17,346 square metres providing about 290 residential units. The URA plans to provide about 50% of the total number of residential units in this project with a saleable area of or less than 46.5 square metres (i.e. about 500 square feet) and to incorporate sports retail elements into the project to enhance the unique local character of the sports retail trade. A number of sports retailers affected by this development project will have the option to move back to continue their business after the project is completed.