Hong Kong Ferry Awarded Redevelopment Project
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2018-06-12 HKT 21:15
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Hong Kong Ferry, controlled by property tycoon Lee Shau-kee, has been awarded a Sham Shui Po redevelopment project for just over HK$1 billion - lower than market expectations.
The company outbid 19 other developers such as Cheung Kong and Sun Hung Kai Properties in a tender by the Urban Renewal Authority.
The site on Tung Chau Street has a maximum floor area of about 13,400 square metres.
Under the land lease, the commercial portion of the new development will be handed back to the government after completion for a design and fashion project. The residential part is required to meet environmentally-friendly features, including the installation of smart energy and waste management systems.
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