38 Expressions of Interest received for URA’s Hang On Street Redevelopment Project
The Urban Renewal Authority (URA) received a total of 38 Expressions of Interest for the development of the Hang On Street Redevelopment Project (the Project) in Kwun Tong when the invitation for submission of Expressions of Interest closed today (Monday).
A tender review panel under the URA Board will shortlist the qualified developers from the submissions, taking into consideration their development experience and financial capability to undertake the development in accordance with the shortlisting criteria set by the tender review panel. The URA will soon invite the shortlisted developers to submit tenders for the development of the Project based on the principal tender terms approved by the URA Board.
The Project, which covers a site area of 789.7 square metres, was commenced on 7 November 2014 under the third round of the URA’s Demand-led Redevelopment Projects (Pilot Scheme). Upon completion, it will provide a maximum total gross floor area of about 6,660 square metres.
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 set out in the development agreement of the Project with the aim of creating a sustainable living environment.