Paliburg and Regal Hotels International win development contract of URA’s Anchor Street/Fuk Tsun Street Project in Tai Kok Tsui

The Urban Renewal Authority (URA) today (Tuesday) announced that a consortium, Ultimate Lead Limited, consisting of Paliburg Holdings Limited and Regal Hotels International Holdings Limited, has won the contract for the development of Anchor Street/Fuk Tsun Street Project in Tai Kok Tsui.

The URA earlier invited a number of pre-qualified property developers to submit a tender for the project. The URA received a total of 10 tender offers when the tender closed.

After careful deliberation, the URA Board considered that the tender offer made by the consortium has met the tender requirements of the project and represented the best offer to the Authority, and thus decided to award the development contract to the consortium.

A spokesman for the URA said the Authority was pleased to have the opportunity to implement the Anchor Street/Fuk Tsun Street Project with Paliburg Holdings Limited and Regal Hotels International Holdings Limited, which have experience in delivering quality hotel developments in Hong Kong.

The project site covers an area of 726 square metres. The URA plans to redevelop the site into a 23-storey hotel providing about 200 rooms and ancillary accommodation with a total gross floor area of 6,529 square metres.

(ENDS)