Henderson Land Development Company Limited wins development contract of URA’s Castle Peak Road/Un Chau Street Development Project

The Urban Renewal Authority (URA) today (Tuesday) announced that the contract for the development of Castle Peak Road/Un Chau Street Development Project (the Project) in Sham Shui Po has been awarded to Avion Investment Limited, a wholly-owned subsidiary of Henderson Land Development Company Limited.  The tender amount offered by Avion Investment Limited is HK$1,368.2 million, which is the highest among the tender submissions received by the URA for this project.

The URA earlier invited 37 property developers to submit tenders for the Project following an expression of interest exercise.  The URA received a total of 17 tenders from these 37 property developers when the submission of tender closed on 5 October 2018.

After careful deliberation, the URA Board considered that the tender offer made by Henderson Land Development Company Limited has met the tender requirements of the Project and thus decided to award the development contract to Henderson Land Development Company Limited.  A list of the 16 unsuccessful tenderers and their respective parent companies is at Annex.  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 a site area of about 1,650 square metres, was commenced in February 2014.  Upon completion, the new development will provide a maximum total gross floor area of about 14,840 square metres.

Since the tendering of two URA projects in Sham Shui Po in November 2014, the URA has imposed a minimum flat size requirement for each residential unit with a saleable area of not less than 260 square feet (i.e. 24.2 square metres).  To enhance the living space of the new developments, starting from the Project, the URA will increase the minimum flat size for each residential unit to a saleable area of not less than 300 square feet (i.e. 27.9 square metres).

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 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 Castle Peak Road/Un Chau Street Development Project
(In alphabetical order of the names of the tenderers)