41 Expressions of Interest received for URA’s Oak Street / Ivy Street Development Project

The Urban Renewal Authority (URA) received a total of 41 Expressions of Interest for the development of the Oak Street / Ivy Street Development Project (the Project) in Tai Kok Tsui when the invitation for submission closed today (10 March 2021).

A tender review panel under the URA Board will shortlist the qualified developers from the submissions, taking into consideration their development experience and financial capability to undertake the development in accordance with the shortlisting criteria set by the tender review panel.  Based on the principal tender terms approved by the URA Board, shortlisted developers will be invited to submit tenders for the development of the Project.

The Project, which covers a site area of 619 square metres, was commenced in March 2018.  Upon completion, it will provide a maximum total gross floor area of 5,571 square metres.

The URA and the successful developer will enter into a development agreement which sets out the standard and quality requirements, the environmentally sustainable provisions as well as smart provisions for the developer to follow, with an aim to create a sustainable living environment.

(ENDS)