Tender closes for Sai Yee Street development project in Mong Kok
The Urban Renewal Authority (URA) today (Wednesday) announced that a total of 12 tender offers have been received for the development of Sai Yee Street Project in Mong Kok.
A tender review panel will consider the tenders received and make recommendation to the URA Board for a decision on the award of a development agreement in respect of this project.
Earlier, the URA asked 18 developers to submit a tender for the development after they had put forward their expressions of interest.
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.
Upon completion, it is expected to deliver a residential gross floor area of 17,346 square metres providing about 290 residential units. The URA plans to provide about 50 percent of the total number of residential units with a saleable area of or less than 46.5 square metres (i.e. about 500 square feet).
The project is also expected to yield a multi-level commercial portion with a gross floor area of about 4,956 square metres, with the ground floor shops abutting on Fa Yuen Street and Nelson Street designated for sports-related businesses with the aim to preserve and enhance the unique local character and vibrancy of the sports retail shops currently prevailing in the vicinity of the project site.