Proposal to redevelop part of Hong Kong’s Ocean Park into dining, retail zone fails to attract a single bid
- As part of park’s HK$6.8 billion rebirth plan, area near the main entrance will be turned into retail, dining and entertainment hub with free entry
- Invitation for tenders was launched in February with an undisclosed number of potential investors shortlisted
An invitation for tenders was launched in February with an undisclosed number of potential investors shortlisted. The original May 31 deadline was later extended to July 29. But Paulo Pong Kin-yee, the new chairman of the Ocean Park Corporation, said none on the shortlist had shown interest when the tender closed on July 29.
He attributed it to the fifth wave of Covid-19 cases, which struck the city early this year, suggesting it had caused potential investors to back off.
“We will consider any possible plans and see how the future developments can help the park to be self-financing,” Pong said in an interview with Hang Seng University posted on YouTube on Thursday.
He also said since the Legislative Council allocated the funds in March last year, park operations had been running smoothly, except for pandemic-related closures, and it was financially sound at the moment, and would be in coming years if foreign visitors returned.
But Pong denied the retail-zone plan was a failure, arguing the project involving external operators in the park’s lowland area was only part of it. The park would change its strategy, he said, with rebidding a possibility.