URA Launches To Kwa Wan Tao/Fei Kwong Street Redevelopment Tender, Deadline November 11
AM730 · 2 SOURCES1 day ago6 MIN
Summary
The Urban Renewal Authority officially launched the tender process for its To Kwa Wan Tao/Fei Kwong Street redevelopment project on October 15, 2026, inviting 28 pre-qualified developers to submit their bids . The project represents the final phase of the Victoria Cove Central (VCC) development, Hong Kong's first "small district redevelopment new community" initiative . Knight Frank's executive director and Greater China valuation advisory head Fong Yiu-ming projects the site value between HK$4 billion and HK$4.6 billion, translating to approximately HK$7,500 to HK$8,500 per square foot of gross floor area .
Key Points
- The URA received 28 expressions of interest for the project on September 17, 2026, before inviting the same number of developers to participate in the formal tender process
- The site spans approximately 58,933 square feet and can accommodate roughly 900 residential units, forming part of eight interconnected redevelopment projects under the VCC small district development model
- Developers must share profits with the URA when sales revenue exceeds HK$9.1 billion: the first HK$800 million at 20%, with subsequent profits shared at 30%
- The commercial portion will see the developer and URA each holding 50% ownership, with a minimum five-year holding period before any disposition
- The project includes plans for two pedestrian bridges connecting to the MTR To Kwa Wan Station and the nearby Primrose Place (首岸) development, enhancing neighbourhood connectivity
Why It Matters
This redevelopment project anchors Hong Kong's broader "East Victoria Harbour District" vision, integrating residential, commercial, and waterfront spaces to transform the former industrial To Kwa Wan area into a vibrant mixed-use community . The VCC initiative demonstrates how coordinated small-district redevelopment can achieve urban revitalisation beyond what isolated projects could accomplish, setting a precedent for future urban renewal efforts across the territory. The project's proximity to the MTR station and innovative profit-sharing model also reflect evolving approaches to public-private partnership in urban development .
This redevelopment project anchors Hong Kong's broader "East Victoria Harbour District" vision, integrating residential, commercial, and waterfront spaces to transform the former industrial To Kwa Wan area into a vibrant mixed-use community . The VCC initiative demonstrates how coordinated small-district redevelopment can achieve urban revitalisation beyond what isolated projects could accomplish, setting a precedent for future urban renewal efforts across the territory. The project's proximity to the MTR station and innovative profit-sharing model also reflect evolving approaches to public-private partnership in urban development .