China Overseas Land & Investment Limited wins URA's Third Street/ Yu Lok Lane/ Centre Street Project in Sai Ying Pun

The Urban Renewal Authority (URA) today (Monday) announced that Maxjet Company Limited, a wholly-owned subsidiary of China Overseas Land & Investment Limited, has won the contract for the joint development project at Third Street/ Yu Lok Lane/ Centre Street Project in Sai Ying Pun in a public tender exercise.

The project site is about 2,150 square metres and upon completion is expected to deliver a maximum gross floor area of about 16,460 square metres mainly for residential use, together with the provision of public open space of about 1,180 square metres. URA plans to provide more small-sized units of about 46.5 square metres in this project, i.e. about 500 square feet. As a result, this development will provide about 270 residential units.

There is also a plan to preserve a pair of existing tenement buildings for adaptive re-use, and implement a theme to re-captivate the laneway character by integrating with those preserved elements of existing tenement buildings in the design.

China Overseas Land & Investment Limited is one of the eight tender submissions received for the joint development project.  The URA Board after careful consideration of all the tender submissions agreed that the offer made by China Overseas Land & Investment Limited met all the tender requirements and represented the best benefit to the Authority.  

A spokesman for the URA said the Authority was pleased to have the opportunity of entering into a joint development with China Overseas Land & Investment Limited, which has solid experience in delivering quality developments in Hong Kong.

(ENDS)