Invitation for Expression of Interest – URA’s Kai Tak Road / Sa Po Road Development Project
The Urban Renewal Authority (URA) will invite developers and consortia to submit an Expression of Interest (EOI) to develop the Kai Tak Road / Sa Po Road Development Project (the Project) in Kowloon City tomorrow (28 June 2024).
The URA initially invited EOIs for the development of the Project in October 2023. After careful consideration of various factors, the URA has decided to schedule the tendering of the Project in the third quarter of this year and, in parallel, enhance the criteria for shortlisting qualified developers eligible to bid for the Project. Due to the time that has elapsed, the URA will once again invite interested developers and consortia to submit EOI for the Project.
Commenced in February 2019, the Project was approved by the Chief Executive-in-Council on 29 September 2020. Covering a site area of 5,307 square metres, the Project will provide approximately 810 residential units with a maximum total gross floor area of 47,763 square metres. In addition, over 500 square metres of the net operating floor area will be allocated for building a Child Care Centre for the community.
With the planning objective to create a vital node that strategically connects the old urban area of Kowloon City to the Kai Tak Development Area (KTDA), the Project will build a sunken plaza of about 1,000 square metres, featuring retail establishments. The sunken plaza will serve as a linkage between the future Underground Shopping Street of the KTDA and the Kowloon City area, utilising a new pedestrian subway currently being constructed by the Government.
Additionally, the on-grade space of the sunken plaza will be integrated with part of another URA project, the Nga Tsin Wai Road / Carpenter Road Development Project (KC-017), approved by the Chief Executive-in-Council, to form a gateway square that consists of both leisure areas and commercial facilities. The gateway square will help enhance accessibility and connectivity between the KTDA and the older districts, while serving as a community gathering point in the future.
The Project will also include a 300-space public underground carpark to address the current shortage of parking spaces in the area. By providing the car parking facilities, it is expected that it will contribute to an increase in foot traffic, thereby enhancing the commercial vibrancy of the surrounding area.
The successful developer or consortium will be required to construct the new development in compliance with the building design, standards and quality requirements, environmental sustainability and smart system provisions as set out in the development agreement of the Project.
A notice inviting submissions of EOI for the Project will be available on the URA website (www.ura.org.hk) and published in local newspapers tomorrow. Developers or consortia interested in the development may obtain an Invitation Brochure at the URA Headquarters in Sheung Wan.
Interested developers and consortia shall submit the EOI Reply Form duly completed and signed, together with the required information to the URA Headquarters at 26/F COSCO Tower, 183 Queen’s Road Central, by 12:00 noon on 12 July 2024 (Friday). Any EOI submission received after the specified closing time mentioned above will not be accepted.
A tender review panel under the URA Board will evaluate the submissions and shortlist qualified developers and consortia based on their development experience and financial capability. The shortlisted developers and consortia will be invited to submit tenders for the development of the Project according to the principal tender terms previously approved by the URA Board.
(ENDS)