Tender Award for Development of Four URA Projects in To Kwa Wan

The Urban Renewal Authority (URA) announced today (3 March 2022) that the contract for the combined development of four projects^[1] located at Hung Fook Street, Kai Ming Street and Wing Kwong Street in To Kwa Wan (the Development) has been awarded to Centenary Investments Limited, a wholly-owned subsidiary of CK Asset Holdings Limited, with a tender amount at HK$5,996 million.

The URA earlier invited 30 property developers / consortia to submit tenders for the Development following an expression of interest exercise.  The URA received a total of seven tenders from these 30 property developers / consortia when the submission of tender closed on 10 February 2022.

After careful deliberation, the URA Board considered that the tender offer made by Centenary Investments Limited has met the tender requirements of the Development and thus decided to award the development contract to Centenary Investments Limited.  A list of the six 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 (within 20 business days upon the tender award).

The four projects with a total site area of 5,438 square metres covering two adjoining sites, namely Hung Fook Street / Kai Ming Street and Wing Kwong Street / Kai Ming Street, were commenced between 2013 and 2017.  Upon completion, the two adjoining sites in total will provide a maximum total gross floor areas of 48,942 square metres.

The successful property 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 Development to create synergy with adjoining development projects of the URA, allowing comprehensive restructuring and replanning of the area while enhancing walkability and connectivity.  The Development 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 for Development of Four URA Projects in To Kwa Wan (In alphabetical order of the names of the tenderers)