4 May 2006
12 developers show interest in the Tuen Mun property development project
The Kowloon-Canton Railway Corporation (KCRC) announced today that eight developers/consortia from the original tender shortlist of October 2005 for its Tuen Mun property development project have confirmed their interest in the re-tendering of the project. Four new expressions of interest (EOIs) were received at the close of submission today.
The project received one tender at the close of tender submission on 25 November 2005 when it was first put on tender. The Board of Directors of the Tuen Mun Property Development Limited decided not to award the project but to invite EOI again. Developers from the original tender shortlist are not required to re-submit their EOI. They only need to provide the Corporation with an update of information provided in the previous EOI submission, if considered necessary.
A KCRC spokesman said, "We are pleased with the overall response. The positive feedback from the 12 developers or consortia shows that there is a keen interest in the project from the market."
Occupying an area of about 2.65 hectares, the project has an approximate gross floor area of 144,512 sq m, comprising 119,512 sq m for residential use and 25,000 sq m for retail purposes.
The development proposal comprises seven residential towers housing 1,924 flats atop a podium containing a retail centre, carparks, Park and Ride facilities and a station entrance plus a permanent Public Transport Interchange on the ground floor.
The Corporation proposes to develop the site in two phases under a single joint venture, and is considering whether to split the payment of the land premium, i.e. in one go or two phases, subject to its negotiation with the Government’s Lands Department. According to the current programme, tenders for the project will be invited in the 2nd quarter of 2006, and the development be completed by 2013.
Details of the Tuen Mun Property Development Project
Site Area Approx. 26,534 m2
Domestic GFA 119,512 m2
Retail 25,000 m2
No. of Residential Flats About 1,924
Average Flat Size 62.1m2
Other major facilities: ancillary car parking spaces, loading and unloading bays, Park and Ride Facility, footbridges and a vehicular bridge.
TOTAL 144,512 m2
Details of the individual phases:
Phase 1 4 residential towers 1,072 flats 63,512 m2
Retail N/A 25,000 m2
Phase 2 3 residential towers 852 flats 56,000 m2
The residential blocks will be 32 to 39 storeys in height (excluding roof and sky garden).