URA Publishes Tender Amounts of Unsuccessful Submissions for Bailey Street / Wing Kwong Street Development Project

The Urban Renewal Authority (URA) today (20 October 2021) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the development of Bailey Street / Wing Kwong Street Development Project (the Project) in To Kwa Wan.

The URA commenced the tender exercise of the Project earlier and a total of six tenders were received when the tender closed on 23 August 2021.  After careful deliberation by the URA Board, the URA awarded the tender for the Project to Nation Star Development Limited, a wholly-owned subsidiary of Henderson Land Development Company Limited, on 9 September 2021.  In addition to publishing the name of the successful tenderer and its holding company upon the award of the tender through a press release, the URA also disclosed at the same time the successful tender amount of HK$8,189 million, as well as the identities of the remaining five unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements.

After the execution of the development agreement with the successful tenderer, the URA further publishes on an anonymous basis the tender amounts offered by those five unsuccessful but conforming tenders.  Their tender amounts are listed in descending order as follows:

The Project, which covers a site area of 7,406 square metres, was commenced in March 2016.  Upon completion, it will provide a maximum total gross floor area of 66,654 square metres.

(ENDS)