Tender awarded for development of URA’s Tonkin Street/ Fuk Wing Street Development Project

The Urban Renewal Authority (URA) today (23 April 2020) announced that the contract for the development of the Tonkin Street/ Fuk Wing Street Development Project (the Project) in Sham Shui Po has been awarded to Wider Loyal Limited, a wholly-owned subsidiary of Chime Corporation Limited. The tender amount offered by Wider Loyal Limited is HK$912.8 million, which is the highest among the tender submissions received by the URA for this project.

The URA earlier invited 36 property developers to submit tenders for the Project following an expression of interest exercise. The URA received a total of 17 tenders from these 36 property developers when the submission of tender closed on 7 April 2020.

After careful deliberation, the URA Board considered that the tender offer made by Wider Loyal Limited has met the tender requirements of the Project and thus decided to award the development contract to Wider Loyal 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 1,070 square metres, was commenced in March 2013. Upon completion, it will provide a maximum total gross floor area of about 9,670 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.

Annex

List of unsuccessful tenderers of the Tonkin Street/ Fuk Wing Street Development Project
(In alphabetical order of the names of the tenderers)

(ENDS)