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URA publishes tender amounts of unsuccessful submissions for Tung Chau Street/Kweilin Street Redevelopment Project

The Urban Renewal Authority (URA) today (Monday) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the Tung Chau Street/Kweilin Street Redevelopment Project (the Project) in Sham Shui Po.

Tung Chau Street/Kweilin Street Project is the first URA project to implement the new arrangement of publishing information of the tender results on joint venture development projects.  The new arrangement was approved by the URA Board in April 2018.

The URA commenced the tender exercise of the Project earlier and a total of 20 tenders were received when the tender closed on 30 May 2018.  After careful deliberation by the URA Board, the URA awarded the tender of the Project to World Fame Shipping Limited, a wholly-owned subsidiary of Hong Kong Ferry (Holdings) Company Limited, on 12 June 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 through a press release, the URA also disclosed at the same time the successful tender amount of HK$1,029.2 million, as well as the identities of the remaining 19 unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements.

Today and after the execution of the development agreement with the successful tenderer, in accordance with the new arrangement, the URA further publishes on an anonymous basis the tender amounts offered by those 19 unsuccessful but conforming tenders.  Their tender amounts are listed in descending order as follows:

 

Tender Amount (HK$)

1. 

955,880,000

2. 

908,000,000

3. 

890,000,000

4. 

888,000,000

5. 

820,800,000

6. 

808,008,888

7. 

801,800,000

8. 

788,000,000

9. 

779,400,000

10. 

750,280,000

11. 

741,300,000

12. 

738,000,000

13. 

733,880,000

14. 

720,004,004

15. 

689,561,251

16.

663,988,104

17. 

577,376,280

18. 

560,000,000

19. 

545,000,000

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.

(ENDS)