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URA's Shandong St., Mong Kok Site Receives Min. 10 EOIs at Submission Close
Recommend 4 Positive 3 Negative 6 |
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The Urban Renewal Authority’s (URA) project at Shandong Street and Thistle Street in Mong Kok has closed its expression of interest (EOI) submission period today (6th) at noon. At least ten EOIs have been received on-site, including submissions from GREAT EAGLE H (00041.HK), CHINA OVERSEAS (00688.HK), Empire Group and Chinachem Group. The project site spans approximately 26,000 square feet, with a maximum developable gross floor area (GFA) of about 160,000 square feet. The URA relaxed the residential plot ratio ceiling from 7.5 to 8.5 times, expected to yield around 380 residential units. Additionally, the project must allocate approximately 30,000 square feet of floor area for government, institutional, and community facilities, which will be exempted from the total GFA calculation. Based on market estimates, the project’s valuation ranges from approximately HKD760 million to over HKD900 million, with the highest predicted land price per square foot of GFA at around HKD6,000. AAStocks Financial News |
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