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14 tenders received for URA’s Oak Street / Ivy Street Development Project

The Urban Renewal Authority (URA) received a total of 14 tenders for the Oak Street / Ivy Street Development Project (the Project) in Tai Kok Tsui when the invitation for submission of tender closed today (20 May 2021).

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 39 property developers to submit tenders.

The Project, which covers a site area of 619 square metres, was commenced in March 2018.  Upon completion, it will provide a maximum total gross floor area of 5,571 square metres.

The URA and the successful developer will enter into a development agreement which sets out the standard and quality requirements, the environmentally sustainable provisions as well as smart provisions for the developer to follow, with an aim to create a sustainable living environment.