Tender Award – URA’s Shing Tak Street / Ma Tau Chung Road Development Project

The Urban Renewal Authority (URA) announced today (14 December 2023) that the contract for the development of the Shing Tak Street / Ma Tau Chung Road Development Project (the Project) in Kowloon City has been awarded to Asia Region Limited, which is a consortium consisting of Sino Land Company Limited, China Merchants Land Limited and Great Eagle Holdings Limited, for a tender amount of HK$1,934 million.

According to the development contract, Asia Region Limited shall reserve three flats on the lower residential floors of the Project for the implementation of the URA’s “in-situ” Flat-for-Flat Scheme.  The accommodation value of the Project, after taking into account the construction cost and gross floor area of the reserved flats, is therefore estimated at HK$4,694 per square foot.

The URA earlier invited interested developers and consortia to submit Expressions of Interest (EOIs) for the Project.  After careful consideration of the EOIs received, the URA invited 32 shortlisted developers and consortia to submit tenders for the development of the Project according to the principal tender terms previously approved by the URA Board.  The URA received six tenders before the submission deadline on 16 November 2023.

After careful deliberation of the tender proposals received, the tender review panel (TRP) under the URA Board considered that the tender proposal from Asia Region Limited complied with the requirements of the tender for the Project and thus recommended awarding the development contract to Asia Region Limited.  The URA Board, having considered the recommendation provided by the TRP, approved the award of the tender for the Project.

Five tenderers and their respective parent companies whose tenders were conforming but unsuccessful are listed in the Annex.  The URA will publish in due course on an anonymous basis the tender amounts of their tender proposals after the execution of the development contract with the successful tenderer.

Annex

List of Unsuccessful Tenderers for the Shing Tak Street / Ma Tau Chung Road Development Project
(In alphabetical order of the names of the tenderers)

(ENDS)