Tender Award for URA’s Hung Fook Street / Ngan Hon Street Development Project

The Urban Renewal Authority (URA) announced today (16 December 2021) that the contract for the development of Hung Fook Street / Ngan Hon Street Development Project (the Project) in To Kwa Wan has been awarded to Port Destiny Limited, a wholly-owned subsidiary of Kerry Properties Limited, with a tender amount at HK$5,587.8 million.

The URA earlier invited 34 property developers / consortia to submit tenders for the Project following an expression of interest exercise.  The URA received a total of eight tenders from these 34 property developers / consortia when the submission of tender closed on 25 November 2021.

After careful deliberation, the URA Board considered that the tender offer made by Port Destiny Limited has met the tender requirements of the Project and thus decided to award the development contract to Port Destiny Limited.  A list of the seven 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 (the Agreement) with the successful tenderer (usually within 21 business days after the tender award).

The Project, which covers a site area of 4,581 square metres, was commenced in June 2016.  Upon completion, it will provide a maximum total gross floor area of 41,229 square metres.

The successful developer will be required to construct the development in compliance with the requirements of the master design control of To Kwa Wan district in Kowloon City as set out in the Agreement of the Project to create synergy with adjoining development projects of the URA, allowing comprehensive restructuring and replanning of the area while enhancing walkability and connectivity.  The Project will also enhance the livability of the district by adopting place-making and smart initiatives.

In addition, the development must comply with the standard and quality requirements, the environmentally sustainable provisions and smart provisions set out in the Agreement.

Annex

List of unsuccessful tenderers of the Hung Fook Street / Ngan Hon Street Development Project
(In alphabetical order of the names of the tenderers)

(ENDS)