Sino Land and Chinese Estates Holdings win development of URA’s Kwun Tong Town Centre Project (Development Areas 2 & 3)
The Urban Renewal Authority (URA) Board decided to award the contract for the development of the Kwun Tong Town Centre Project (Development Areas 2 & 3) to a consortium, Union Score Investments Limited, consisting of Sino Land Company Limited and Chinese Estates Holdings Limited, in a meeting today (Monday).
The URA earlier invited a total of 10 pre-qualified property developers to submit a tender for the development under the revised tender terms and project requirements following the URA Board's decision in late July. The URA received a total of six tender proposals when the tender closed on 26 August.
A tender review panel has carefully considered all tenders received and made recommendation to the URA Board. After careful deliberation, the URA Board considered that the offer made by the consortium has met the tender requirements and decided to award the development contract to Sino Land Company Limited and Chinese Estates Holdings Limited.
A spokesman for the URA said the Authority was pleased to have the opportunity to implement the Kwun Tong project with Sino Land Company Limited and Chinese Estates Holdings Limited, which have solid experience in delivering quality developments in Hong Kong.
The Kwun Tong project is the largest redevelopment initiative ever undertaken by the URA since establishment. With a total area of about 5.35 hectares, the project is divided into five Development Areas and is implemented in phases. Development Areas 2 and 3 that are being put up for tender occupy a site of about 21,754 square metres. The new development targets to deliver some 1,700 residential units of a total gross floor area of about 138,980 square metres, a total non-domestic gross floor areas of about 33,220 square metres for retail shops, a two-level public transport interchange for franchised buses and public light buses, a hawker bazaar and a refuse collection point. A public open space of about 6,400 square metres will also be provided.