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Tender awarded for development of URA’s Hang On Street Redevelopment Project

The Urban Renewal Authority (URA) today (Tuesday) announced that the contract for the development of Hang On Street Redevelopment Project (the Project) in Kwun Tong has been awarded to Gainplace Limited, a wholly-owned subsidiary of Lai Sun Development Company Limited.  The tender amount offered by Gainplace Limited is HK$883 million, which is the highest among the tender submissions received by the URA for this project.

The URA earlier invited 37 property developers to submit tenders for the Project following an expression of interest exercise.  The URA received a total of 18 tenders from these 37 property developers when the submission of tender closed on 10 April 2019.

After careful deliberation, the URA Board considered that the tender offer made by Gainplace Limited has met the tender requirements of the Project and thus decided to award the development contract to Gainplace Limited.  A list of the 17 unsuccessful tenderers and their respective parent companies is at Annex.  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 with the successful tenderer (usually within 21 business days after the tender award).

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.

(ENDS)

Annex

List of unsuccessful tenderers of the Hang On Street Redevelopment Project 
(In alphabetical order of the names of the tenderers)

Name of Unsuccessful Tenderer

Name of Parent Company

1

Asia Horizon Limited

(雅凱有限公司)

Sino Land Company Limited

(信和置業有限公司)

2

Castle Energy Limited

(堡勁有限公司)

Chime Corporation Limited

(參明有限公司)

3

Detheridge Estates Limited

(遠東發展(大連)地產有限公司)

Far East Consortium International Limited

4

First Smart Investment Limited

(德英投資有限公司)

Yau Lee Holdings Limited

5

Fortunate Pioneer Limited

Wheelock and Company Limited

(會德豐有限公司)

6

Gain Concept Holdings Limited

(達創集團有限公司)

Charming King Limited

7

Grosvenor Limited

(高富諾有限公司)

Grosvenor Asia Pacific Limited

8

Hanforth Limited

(恒科有限公司)

Vantage International (Holdings) Limited

(盈信控股有限公司)

9

HKRP Management Limited

(香港興業物業管理有限公司)

HKR International Limited

(香港興業國際集團有限公司)

10

International Marina Club Limited

Chuang's Consortium International Limited

(莊士機構國際有限公司)

11

Nice East Investment Limited

ITC Properties Group Limited

(德祥地產集團有限公司)

12

Smart Benefit Corporation Limited

(潤俊有限公司)

Emperor International Holdings Limited

(英皇集團(國際)有限公司)

13

Sunny Earn Industrial Limited

(明得實業有限公司)

Tianji Holding Limited

(天基控股有限公司)

14

Topco (H.K.) Limited

(誠高(香港)有限公司)

Sun Hung Kai Properties Limited

(新鴻基地産發展有限公司)

15

Treasure King Investment Limited

(寶皇投資有限公司)

CK Asset Holdings Limited

(長江實業集團有限公司)

16

Turnwell Limited

(通旭有限公司)

K. Wah International Holdings Limited

(嘉華國際集團有限公司)

17

United Horizon Limited

(宇訊有限公司)

Wang On Properties Limited

(宏安地產有限公司)