Sino Land Company Limited and Hopewell Holdings Limited win Lee Tung Street/McGregor Steet redevelopment project

The Urban Renewal Authority (URA) today (Tuesday) announced that a consortium Grand Site Development Limited consisting of two consortium members, Sino Land Company Limited and Hopewell Holdings Limited, has won the joint development contract for the Lee Tung Street/McGregor Street project in Wan Chai in a public tender exercise.

The project covers a site area of about 88,500 square feet and upon completion, is expected to deliver a maximum gross floor area of about 835,000 square feet for residential and commercial uses, together with public open space, a residential care home for the elderly and conservation of three historical buildings.

Grand Site Development Limited is one of the six tender submissions received for the joint venture project.  The Board after careful consideration of all the tender submissions decided that the offer made by Grand Site Development Limited was the best offer and 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 Sino Land Company Limited and Hopewell Holdings Limited, which have solid experience in delivering quality development in Hong Kong.

The Lee Tung Street/McGregor Street project is one of the key URA projects in Wan Chai, which incorporates redevelopment, conservation and revitalisation elements.  The project will feature some "Wedding City" themed shops and a wedding traditions and culture gallery in the three conserved historical buildings, and some floor spaces will also be designated for social enterprises.

(ENDS)