Sino Land wins URA's Yeung Uk Road project

The Urban Renewal Authority (URA) today (Monday) announced that Ocean Treasure (Hong Kong) Limited, a wholly owned subsidiary of Sino Land Company Limited, has won the joint development contract for its Yeung Uk Road project in a public tender exercise.

The 77,824-square foot site is a residential and commercial development. It was earmarked by the Government as a linked site to facilitate the implementation of the Tsuen Wan Town Centre redevelopment project which was commenced by the former Land Development Corporation.

Design and construction work will commence shortly. The project is expected to be completed in 2007.

Sino Land is one of 14 property developers who tendered for the joint venture project. Based on the recommendations of a tender panel appointed by the URA Board, members of the Board agreed that the offer made by Sino Land has met all the tender requirements and, at the same time, represented the best benefit to the Authority.

A URA spokesman said the Authority was pleased to have the opportunity of entering into a joint venture with Sino Land, which has solid experience in delivering quality estate development in Hong Kong.