China Overseas Land & Investment (0688) successfully bid for the Bailey Street / Chi Kiang Street Project in Hung Hom for HK$6.9 billion, the Urban Renewal Authority said on Friday.
The URA said following a tender, it has decided to partner with Top Global Investment, a wholly-owned subsidiary of China Overseas Land & Investment, to develop the project.
The URA had earlier invited developers to submit tenders for the project. By the closing date of July 27, a total of seven bids were received. The tender review panel under the URA Board evaluated the bids and recommended to the board that the project development contract be awarded to Top Global Investment, which the Board accepted.
Following the signing of the development contract, the URA will disclose the tender amounts of the six unsuccessful bids in due course, on an anonymous basis.
