Sham Shui Po project draws 17 bidders

Urban Renewal Authority’s Tonkin Street/Fuk Wing Street Development Project in Sham Shui Po has received at least 17 tenders from mainland and Hong Kong developers today.

The developers include, Country Garden (2007), Chevalier International (0025), China Overseas Land and Investment (0688), Emperor International (0163), Far East Consortium International (0035), Chinachem Group, New World Development (0017), Wang On Properties (1243), Sino-Ocean Group (3377), SEA (0251), and K&K Property.

The project, which covers about 1,070 square meters, began in March 2013. Upon completion, it will provide a maximum total gross floor area of about 9,670 sq m.

The URA's initial proposal is to redevelop the project to provide about 175 small to medium-sized residential flats with sizes of around 35 sq m to 65 sq m and retail podium on the lower floors, tentatively scheduled for completion by 2023/2024. Market surveyors valued the project at around HK$1.01 billion.