Henderson boss says he's determined to win West Kowloon job 'for the people'
Like other developers bidding for the contract to build the West Kowloon arts hub, Henderson Land is proposing a higher-density development than the government wants.
But it would stick closer to the government target than some rivals, said Henderson Land vice-chairman Colin Lam Ko-yin, who called the company's proposed plot ratio 'quite restrained'.
The property giant's bid for the project proposes a plot ratio - representing a project's developed area compared to its site area - of 2.5, including 0.7 for cultural facilities. The government set the overall plot ratio at 1.81, but Chief Secretary Donald Tsang Yam-kuen said last year the winner could have a high ratio if essential.
Architects have estimated the 1.81 plot ratio could result in 7,600 flats being built, with the gross floor area of the project estimated at 10 million sq ft.
Henderson's solo bid is competing for the project with a Sun Hung Kai Properties-Cheung Kong joint venture; Swire Properties; and a consortium comprising Sino Land, Wharf (Holdings), Chinese Estates Holdings and K Wah Group. Other bidders have sought a plot ratio as high as three.
Due for completion in 2012, the $24 billion project on a reclaimed site near Kowloon Station will include theatres, museums, shops and flats.
