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Cheung Kong (Holdings) Ltd and Far East Consortium International Limited winning development contracts of two URA projects in Sham Shui Po

The Urban Renewal Authority (URA) Board today (Monday) announced that Swiss Investments Ltd, a wholly-owned subsidiary of Cheung Kong (Holdings) Ltd, has won the contract for the development of Hai Tan Street/Kweilin Street & Pei Ho Street project. The URA also decided to award the contract for the development of Nos. 229A - G Hai Tan Street demand-led project to Cheong Sing Property Development Limited, a wholly-owned subsidiary of Far East Consortium International Limited.

The URA earlier invited a number of pre-qualified property developers to submit tenders for the two respective projects. The URA received a total of nine tender offers for the Hai Tan Street/Kweilin Street & Pei Ho Street project and two tender offers for the Nos. 229A - G Hai Tan Street demand-led project when the tender closed.

After careful deliberation, the URA Board considered that the tender offers made by Cheung Kong (Holdings) Ltd and Far East Consortium International Limited have met the tender requirements of the two respective projects and represented the best offer to the Authority. The URA decided to award the development contract for Hai Tan Street/Kweilin Street & Pei Ho Street project to Cheung Kong (Holdings) Ltd, and the development contract for Nos. 229A - G Hai Tan Street demand-led project to Far East Consortium International Limited.

A spokesman for the URA said the Authority was pleased to have the opportunities to implement the two projects in Sham Shui Po with Cheung Kong (Holdings) Ltd and Far East Consortium International Limited respectively, both of which have solid experience in delivering quality developments in Hong Kong.

The Hai Tan Street/Kweilin Street & Pei Ho Street project is a large-scale redevelopment project undertaken by the URA in Sham Shui Po with a total site area of about 7,510 square metres covering a cluster of three sites. Upon completion, it is expected to deliver a residential gross floor area of about 50,100 square metres, providing about 845 units. It will also provide a commercial gross floor area of about 5,400 square metres, about 1,900 square metres for Institutional or Community facilities, and a public open space of about 1,500 square metres.

The other project at Nos. 229A - G Hai Tan Street is a demand-led redevelopment project in the first round of the pilot scheme. With a site area of about 430 square metres, the project is planned to deliver about 69 residential units with a total residential gross floor area of about 3,240 square metres and 400 square metres of commercial gross floor area.

(ENDS)