Central airport station next in line
THE winning developer for the first phase of the airport railway's Kowloon station is known - and the market will now turn attention swiftly to the $40 billion station planned in Central.
Last month, the MTRC invited five consortiums, comprising 14 of Hong Kong's leading developers and several international conglomerates, to submit tenders for the project.
It is expected to award development rights in the second quarter of this year. Like the first package for the Kowloon station, the Central development tender attracted Singaporean interest.
The Government of Singapore Investment Corp and City Development has taken a significant stake in a consortium bidder led by Sino Land Co and Great Eagle Holdings.
Members of other consortiums to bid for the Central development comprise the territory's major property players including Sun Hung Kai Properties, Cheung Kong (Holdings), Hongkong Land and Henderson Land Development.
The development will provide 968,760 sq ft of retail space, three office towers, with a floor area of 2.4 million sq ft, and two hotels.
The tender for the second package at the Kowloon station will be arranged by the MTRC after the Central tender has been awarded.
The Kowloon Station development, in the West Kowloon Reclamation area, is to be transformed into a commercial, residential and hotel complex over seven phases, with the project due to be completed in 2008.
It will develop a gross floor area of 11.73 million sq ft at an estimated investment cost of $71 billion.
At its heart will be an 88-storey office and hotel tower which is anticipated to become Hong Kong's tallest building, 10 floors higher than the Central Plaza in Wan Chai.
The first package at the Kowloon station will provide residential space of about 1.6 million sq ft. The development will include six residential towers and a podium car-park with 1,330 spaces.
