Kerry Properties Wins Tender for URA’s Hung Fook Street and Ngan Hon Street Development Project in To Kwa Wan

Kerry Properties Limited  is pleased to announce that, the Group has won the tender for the Hung Fook Street and Ngan Hon Street Development Project from the Urban Renewal Authority (“URA”) for HK$5,587.8 million.

Covering a site area of approximately 49,300 square feet, the land parcel will generate a buildable gross floor area of over 443,700 square feet, of which about 369,800 sq. ft. will accommodate the development of some 665 residential flats. The remaining floor area of 73,900 sq. ft. is designated for the creation of commercial spaces..

The Project aims to create synergies with adjoining URA developments by enhancing connectivity within the district, which is in line with the master development blueprint for To Kwa Wan. Through a combination of building design, place-making and sustainability elements, the Project will bring vitality to the surrounding communities while enriching people’s lives.

Mr. Calvin Tong, General Manager, Hong Kong of Kerry Properties (H.K.) Limited, says, “The Hung Fook Street and Ngan Hon Street Development marks another major collaboration of Kerry Properties with URA. Our joint development in 2005 brought an upscale residential project, Island Crest, to Sai Ying Pun which was undergoing renewal at that time. This redevelopment has added a taste of modernity to the district, and being blended in harmoniously with the transforming neighbourhood. We are proud to have contributed to the new face of the Western District.”

Mr. Tong continues, “This newly acquired site lies in a core urban area in Kowloon which is set for transformation. We look forward to working with URA again to develop another upscale residential project that demonstrates architectural beauty, and to add value to the 2 commercial space with our asset management capabilities. Sustainable elements will also be incorporated into the entire lifecycle of the project. We are confident that this development will become a strong addition to our portfolio in Hong Kong.”