A small urban redevelopment project in Shamshuipo has attracted interest from 22 developers. Surveyors said the site suited small property firms and involved low development risk.
Developers who submitted an interest in the Urban Renewal Authority's project include leading players such as Cheung Kong (Holdings), New World Development and Sino Land. The deadline for submissions was yesterday.
Also interested are Kerry Properties, Hopewell Holdings, Wharf Holdings, HKR International, Chuang's Consortium, privately run developer Yu Tai Hing and contractor turned developer Chun Wo Holdings.
The site, at the junction of Po On Road and Shun Ning Road, covers an area of about 15,000 sqft and is expected to deliver a gross floor area of about 135,000 sqft for residential and commercial purposes. The assigned developer is expected to provide open space of about 2,700 sqft for public use, according to the authority.
A review panel will shortlist suitable developers who will then submit formal tenders for the project.
Pang Shiu-kee, head of SK Pang Surveyors, said mid-tier developers would be more aggressive in bidding for the project.