Tender awarded for URA’s Oak Street / Ivy Street Development Project

The Urban Renewal Authority (URA) announced today (10 June 2021) that the contract for the development of the Oak Street / Ivy Street Development Project (the Project) in Tai Kok Tsui has been awarded to Gain Concept Holdings Limited, a wholly owned subsidiary of Charming King Limited, with a tender amount at HK$618.1 million.

The URA earlier invited 39 property developers to submit tenders for the Project following an expression of interest exercise.  The URA received a total of 14 tenders from these 39 property developers when the submission of tender closed on 20 May 2021.

After careful deliberation, the URA Board considered that the tender offer made by Gain Concept Holdings Limited has met the tender requirements of the Project and thus decided to award the development contract to Gain Concept Holdings Limited.  A list of the 13 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 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.

Annex

List of unsuccessful tenderers of the Oak Street / Ivy Street Development Project
(In alphabetical order of the names of the tenderers)

(ENDS)