20 tenders received for development of URA’s Tung Chau Street/Kweilin Street Redevelopment Project
The Urban Renewal Authority (URA) received a total of 20 tenders for the Tung Chau Street/Kweilin Street Redevelopment Project (the Project) in Sham Shui Po when the invitation for submission of tender closed today (Wednesday).
A tender review panel (TRP) under the URA Board will consider the tenders received and make recommendation to the URA Board for its decision on the award of the development of the Project.
The URA earlier invited interested developers to submit Expressions of Interest for the Project. After careful consideration of the Expressions of Interest received, the TRP invited 38 property developers to submit tender.
Tung Chau Street/Kweilin Street Project will be the first URA tender project to implement the new arrangement of publishing information on joint venture development project tender results, which arrangement was approved by the URA Board in April 2018. Under the new arrangement, in addition to publishing the name of the successful tenderer and its holding company upon the award of the tender award by the URA Board through a press release, the URA will also disclose at the same time the tender amount offered by the successful tenderer and the identities of those unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements. The URA will later publish on an anonymous basis the tender amounts of these unsuccessful but conforming tenders after the execution of the development agreement by the successful tenderer (usually within 21 business days after the tender award).
The Project, which covers an area of about 1,490 square metres, was commenced in April 2013 under the second round of the URA’s Demand-led Redevelopment Projects (Pilot Scheme). Upon completion, the Project will provide a maximum total gross floor area of about 13,410 square metres. The commercial portion of the new development will be designated for the Sham Shui Po Design and Fashion Project in response to the initiatives of the Commerce and Economic Development Bureau to nurture design and fashion talents and turn the district into a design and fashion landmark.
The successful developer will be required to construct the new development in compliance with the standard and quality requirements, the environmentally sustainable provisions and smart provisions in respect of home energy and water consumption system, home health and wellness system, smart display, home waste management system, building information modelling system and building management system set out in the development agreement of the Project with the aim of creating a sustainable living environment.