URA's Kowloon site draws 28 expressions of interest

The Urban Renewal Authority said it received a total of 28 expressions of interest for the Shantung Street/Thistle Street Development in Kowloon before the deadline for submission at noon on Thursday.

China Overseas Land & Investment (0688), Chinachem, and Great Eagle (0041) were said to have expressed their interest in the project.

The site, spanning 2,475 square meters, will provide a maximum total gross floor area of nearly 15,000 sq m, the URA said in a statement.

To provide greater design flexibility for the project, the authority has adopted the “interchangeability of domestic and non-domestic plot ratio”, which relaxed the maximum plot ratio for residential from 7.5 to 8.5, resulting in 380 flats covering a floor area of 14,118 sq m, the statement said.

In addition, approximately 2,850 sq m of floor space will be designated for government, institution, or community facilities, which shall be exempted from GFA calculation, the URA said.

A tender review panel will evaluate the submissions and shortlist qualified developers and consortia based on their development experience and financial capability.

Shortlisted developers and consortia will then be invited to submit tenders, it added.

STAFF REPORTER