Plenty of interest as URA takes bids for Sham Shui Po development projects
The Urban Renewal Authority (URA) yesterday received 11 bids for two residential redevelopment projects in Sham Shui Po that could involve a total investment of more than HK$5 billion.
The Urban Renewal Authority (URA) yesterday received 11 bids for two residential redevelopment projects in Sham Shui Po that could involve a total investment of more than HK$5 billion.
The URA said the bigger of the two projects, spanning the Hai Tan Street-Kweilin Street intersection and Pei Ho Street that covers a cluster of three sites with a total area of 80,838 square feet, generated nine bids, while a smaller plot at 299A-G Hai Tan Street received two.
"The response for the bigger site is satisfactory, while less interest for the smaller plot was expected," said Vincent Cheung Kiu-cho, national director for greater China at property consultant Cushman & Wakefield.
The bigger project could provide a total floor area of 539,276 sq ft, with 845 flats and 58,126 sq ft of commercial space.
Analysts estimate the bids for this project ranged from HK$2.2 billion to HK$2.5 billion.
The bidders included Henderson Land Development, Wheelock Properties, Sun Hung Kai Properties, Cheung Kong, Nan Fung Development, Far East Consortium, Chinese Estates and a joint venture between Sino Land and Emperor International.
