Paliburg and Regal Hotels International win development of URA’s Shun Ning Road project in Sham Shui Po
The Urban Renewal Authority (URA) today (Tuesday) announced that a consortium, Star Yield Investments Limited, consisting of Paliburg Holdings Limited and Regal Hotels International Holdings Limited, has won the contract for the residential-cum-commercial development of Shun Ning Road project in Sham Shui Po by tender.
The project with a site area of about 825 square metres is located at Shun Ning Road near Tonkin Street in Sham Shui Po. The total residential gross floor area is about 6,186 square metres. It is expected that 50 percent of the total number of residential units will each have a saleable area of not more than 46.5 square metres (i.e. about 500 square feet).
The consortium is one of the four 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 the consortium met all the tender requirements and represented the best benefit to the Authority.
A spokesman for the URA said the Authority was pleased to have the opportunity to implement the project with Paliburg Holdings Limited and Regal Hotels International Holdings Limited, which have solid experience in delivering quality developments in Hong Kong.