Invitation for Expression of Interest – URA’s Shantung Street / Thistle Street Development Scheme

The Urban Renewal Authority (URA) will invite developers and consortia to submit an Expression of Interest (EOI) to develop the Shantung Street / Thistle Street Development Scheme (YTM-012 Project) in Kowloon tomorrow (20 February 2025).

 The URA launched the pilot Development Facilitation Services (DFS) for YTM-012 Project in January 2025.  Prior to the tendering process, DFS provided a platform to present the features and background information of YTM-012 to interested developers, allowing them more time to understand the project details.  Interested developers were given the opportunity to express their views on YTM-012 Project as needed.  The URA has collected quite a number of opinions from DFS which have been analysed. 

Covering a site area of 2,475 square metres^[1], YTM-012 Project will provide a maximum total gross floor area (GFA) of 14,949 square metres.  In order to provide greater design flexibility for the project, the URA has applied the approved planning tool of “interchangeability of domestic and non-domestic plot ratio” under the Mong Kok Outline Zoning Plan.  Without exceeding the permitted maximum GFA, the maximum domestic plot ratio has been relaxed from 7.5 to 8.5, resulting in a GFA of 14,118 square metres for private residential purpose, which will provide around 380 residential units.  In addition, approximately 2,850 square meters of floor space will be designated for Government, Institution or Community facilities, which shall be exempted from GFA calculation.

A portion of the existing Thistle Street Rest Garden (TSRG) will be reprovisioned within the YTM-012 Project to enhance the TSRG layout.  For the TSRG outside the project boundary, it will be revitalised by the URA with relevant works commenced in late 2024.  The whole TSRG will be handed back to the Leisure and Cultural Services Department for management and maintenance upon completion of the reprovision works.

A notice inviting submissions of EOI for YTM-012 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 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 URA Headquarters at 26/F COSCO Tower, 183 Queen’s Road Central, by 12:00 noon on 6 March 2025 (Thursday).  Any EOI submission received after the specified closing time mentioned above will not be accepted in this EOI exercise.

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 YTM-012 Project according to the principal tender terms previously approved by the URA Board.

(ENDS)