Chevalier Pacific Limited wins development contract of URA’s Fuk Chak Street/Li Tak Street demand-led redevelopment project
The Urban Renewal Authority (URA) today (Tuesday) announced that Chevalier Pacific Limited, a wholly-owned subsidiary of Chevalier International Holdings Limited, has won the contract for the development of Fuk Chak Street/Li Tak Street demand-led redevelopment project in Tai Kok Tsui.
The URA earlier invited a number of qualified property developers to submit tenders for the project following an Expression of Interest exercise. The URA received a total of 14 tenders when the submission of tender closed on 25 May 2017.
After careful deliberation, the URA Board considered that the tender offer made by Chevalier Pacific Limited has met the tender requirements of the project and thus decided to award the development contract to Chevalier Pacific Limited.
The project site, which covers an area of 768 square metres, was commenced in June 2013 under the second round of the URA's Demand-led Redevelopment Projects (Pilot Scheme). It is tentatively scheduled for completion by 2020/2021, providing about 96 residential units with a total residential gross floor area of about 5,103 square metres and 637 square metres of commercial gross floor area.