The Urban Renewal Authority (URA) Board announced the decision to award the contract for the development of the Kwun Tong Town Centre Project (Development Areas 2 & 3) to a consortium, Union Score Investments Limited, consisting of Sino Land Company Limited and Chinese Estates Holdings Limited in early September.
     The URA received a total of six tender proposals when the tender closed on 26 August. The alliance, in which Sino Land holds a 90% stake and Chinese Estates 10%, outbid five other tenders. It will have six years to complete the non-residential parts of the project and public facilities, compared with four years and eight months respectively under the initial tender.
     The Kwun Tong project is the largest redevelopment initiative ever undertaken by the URA since establishment. With a total area of about 5.35 hectares, the project is divided into five Development Areas and is implemented in phases. Development Areas 2 and 3 that are being put up for tender occupy a site of about 21,754 square metres. The new development targets to deliver some 1,700 residential units of a total gross floor area of about 138,980 square metres, a total non-domestic gross floor areas of about 33,220 square metres for retail shops, a two-level public transport interchange for franchised buses and public light buses, a hawker bazaar and a refuse collection point. A public open space of about 6,400 square metres will also be provided.

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