Hong Kong Ferry (Holdings) Company Limited wins development contract of URA’s Tung Chau Street/Kweilin Street Redevelopment Project

The Urban Renewal Authority (URA) today (Tuesday) announced that the contract for the development of Tung Chau Street/Kweilin Street Redevelopment Project (the Project) in Sham Shui Po has been awarded to World Fame Shipping Limited, a wholly-owned subsidiary of Hong Kong Ferry (Holdings) Company Limited.  The tender amount offered by World Fame Shipping Limited is HK$1,029.2 million, which is the highest among the tender submissions received by the URA for this project.

The URA earlier invited 38 property developers to submit tenders for the Project following an expression of interest exercise.  The URA received a total of 20 tenders from these 38 property developers when the submission of tender closed on 30 May 2018.

After careful deliberation, the URA Board considered that the tender offer made by Hong Kong Ferry (Holdings) Company Limited has met the tender requirements of the Project and thus decided to award the development contract to Hong Kong Ferry (Holdings) Company Limited.  A list of the 19 unsuccessful tenderers and their respective parent companies is at Annex.

Tung Chau Street/Kweilin Street Project is the first URA project to implement the new arrangement of publishing information on joint venture development project tender results, which arrangement was approved by the URA Board in April 2018.  Under the new arrangement, in addition to publishing the name of the successful tenderer and its holding company upon the award of the tender by the URA Board through a press release, the URA will also disclose at the same time the tender amount offered by the successful tenderer and the identities of those unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements.  The URA will later publish on an anonymous basis the tender amounts of these unsuccessful but conforming tenders after the execution of the development agreement with the successful tenderer (usually within 21 business days after the tender award).

The Project, which covers an area of about 1,490 square metres, was commenced in April 2013 under the second round of the URA’s Demand-led Redevelopment Projects (Pilot Scheme).  Upon completion, the Project will provide a maximum total gross floor area of about 13,410 square metres.  The commercial portion of the new development will be designated for the Sham Shui Po Design and Fashion Project in response to the initiatives of the Commerce and Economic Development Bureau to nurture design and fashion talents and turn the district into a design and fashion landmark.

The successful developer will be required to construct the new development in compliance with the standard and quality requirements, the environmentally sustainable provisions and smart provisions in respect of home energy and water consumption system, home health and wellness system, smart display, home waste management system, building information modelling system and building management system set out in the development agreement of the Project with the aim of creating a sustainable living environment.

(ENDS)

Annex

List of unsuccessful tenderers of the Tung Chau Street/Kweilin Street Redevelopment Project
(In alphabetical order of the names of the tenderers)