URA lowers entry barrier for Kwun Tong mega project

Posted: Aug 6 2014Last Updated: Jul 14 2017
6 August 2014 - The Urban Renewal Authority will re-tender the Kwun Tong redevelopment project, the Kwun Tong Centre Project (Areas 2 and 3), scrapping the HK$8 billion entry fee but leaving unchanged the requirement to build 1,700 mid- to large-sized flats. It is expected that the bottom price will be adjusted and bidding interest from developers will follow.
After last week's tender failure, the URA is inviting 10 pre-qualified developers to bid for the project before 26 August 2014. The result will be announced at the end of next month.
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