Six bids go to URA's Bailey Street project

Urban Renewal Authority has received at least six bids for its project at To Kwa Wan.

The bids for the Bailey Street / Wing Kwong Street project are from CK Asset Holdings (1113), Sino Land (0083), Sun Hung Kai Properties (0016), Henderson Land Development (0012) and K. Wah International Holdings (0173). Chinachem partners with Wheelock Properties in its bid.

The project covers an area of 66,000 square meters, providing about 1,150 residential flats.

Sources said the project can cost as much as HK$10.76 billion. The cost per square foot can reach HK$13,000 to HK$15,000.