18 tenders received for development of URA’s Hang On Street Redevelopment Project
The Urban Renewal Authority (URA) received a total of 18 tenders for the Hang On Street Redevelopment Project (the Project) in Kwun Tong 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 37 property developers to submit tender.
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.