URA Publishes Tender Amounts of Unsuccessful Submissions for Wing Kwong Street / Sung On Street Development Project
The Urban Renewal Authority (URA) today (7 December 2022) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the development of Wing Kwong Street / Sung On Street Development Project (the Project) in To Kwa Wan.
The URA commenced the tender exercise of the Project earlier and a total of seven tenders were received when the tender closed on 6 October 2022. After careful deliberation by the URA Board, the URA awarded the tender for the Project to a consortium, Fortune Hope Limited, consisting of Sino Land Company Limited and China Merchants Land Limited, on 27 October 2022. In addition to publishing the name of the successful consortium and its holding companies upon the award of the tender through a press release, the URA also disclosed at the same time the successful tender amount of HK$2,388 million, as well as the identities of the remaining six unsuccessful tenderers and their respective parent companies which have submitted tenders conforming to the tender requirements.
After the execution of the development agreement (the Agreement) with the successful consortium, the URA further publishes on an anonymous basis the tender amounts offered by those six unsuccessful but conforming tenders. Their tender amounts are listed in descending order as follows:
|
|
Tender Amount (HK$) |
|
1 |
2,238,600,000 |
|
2 |
2,230,000,000 |
|
3 |
1,962,000,000 |
|
4 |
1,950,300,000 |
|
5 |
1,700,000,000 |
|
6 |
1,560,000,000 |
The Project, which covers a site area of 2,876 square metres, was commenced in June 2018. It is planned to provide a maximum total gross floor area of 25,884 square metres upon completion. The commercial portion, with 30% of its interest entitlement owned by the URA, will be jointly operated by the URA and the successful consortium as set out in the Agreement.
(ENDS)