The Development Bureau (DEVB) announced on November 3 that Site 3 of the New Central Harbourfront (i.e. Inland Lot 9088) had been awarded to Pacific Gate Development Limited (parent company: Henderson Land Development Company Limited) on a 50-year land grant with a premium of $50,800,000,000. Following the settlement of the premium in full by the successful tenderer in early December as required, the tender process has been completed. The DEVB disclosed further information on the tender exercise today (December 8).
The Government received a total of six tenders under this tender exercise. All of them passed the requirements for non-premium proposals. However, the premium offers of four of the tenders were lower than the reserved price set by the Government on the day of tender closure, and as such failed to meet the requirement for the premium aspect. In other words, only two (including the successful tender) were regarded as conforming tenders fulfilling both the premium and non-premium requirements.
According to the previously promulgated arrangement, the DEVB disclosed further information of the other conforming tender fulfilling both the premium and non-premium requirements on a non-attributable basis. The combined score of the tender was 84.86, with a premium offer of $37,109,000,000. The artist's impressions of the proposal are in the Annex.
The information disclosed in this press release is for information only.
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