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URA publishes tender amounts of unsuccessful submissions for Hang On Street Redevelopment Project

The Urban Renewal Authority (URA) today (Monday) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the Hang On Street Redevelopment Project (the Project) in Kwun Tong.

The URA commenced the tender exercise of the Project earlier and a total of 18 tenders were received when the tender closed on 10 April 2019.  After careful deliberation by the URA Board, the URA awarded the tender of the Project to Gainplace Limited, a wholly-owned subsidiary of Lai Sun Development Company Limited, on 30 April 2019.  In addition to publishing the name of the successful tenderer and its holding company upon the award of the tender through a press release, the URA also disclosed at the same time the successful tender amount of HK$883 million, as well as the identities of the remaining 17 unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements.

Today and after the execution of the development agreement with the successful tenderer, the URA further publishes on an anonymous basis the tender amounts offered by those 17 unsuccessful but conforming tenders.  Their tender amounts are listed in descending order as follows:

  Tender Amount (HK$)
1. 829,000,000
2. 713,000,000
3. 703,000,000
4. 688,888,000
5. 688,800,000
6. 658,541,588
7. 643,100,000
8. 637,500,000
9. 635,510,000
10. 610,000,000
11. 608,800,000
12. 606,700,000
13. 551,500,000
14. 549,000,000
15. 535,280,000
16. 475,000,000
17. 400,000,000

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.