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Nan Fung Group wins URA’s Queen's Road East Project

The Urban Renewal Authority (URA) today (Thursday) announced that a wholly-owned subsidiary of Nan Fung Group, Nan Wai Development Limited, has won the joint development contract for its Queen's Road East project at 235-245 Queen's Road East in Wan Chai in a public tender exercise.

The project covers a site area of about 4,070 square feet and upon completion, is expected to deliver a minimum gross floor area of about 21,250 square feet for residential and commercial use.

Nan Fung Group is one of the ten property developers who tendered for the joint venture project.  Based on the recommendation of a tender review panel appointed by the URA Board, members of the Board agreed that the offer made by Nan Fung Group has met all the tender requirements and, at the same time, represented the best benefit to the Authority.

The spokesman said the Authority was pleased to have the opportunity of entering into a joint venture with Nan Fung Group, which has solid experience in delivering quality development in Hong Kong and is currently a joint venture partner for the project at Cherry Street, Tai Kok Tsui.