WEDNESDAY, JULY 26, 1989
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GARDEN ROAD PRIME SITE SOLD FOR $2.7 BILLION
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THE ACTING DIRECTOR OF BUILDINGS AND LANDS, MR BOB POPE, ANNOUNCED TODAY (WEDNESDAY) THAT THE TENDER FOR IL8888 HAD BEEN AWARDED TO SHINE HILL DEVELOPMENT LTD., A WHOLLY OWNED
A WHOLLY OWNED SUBSIDIARY OF GREAT EAGLE COMPANY LIMITED, AT A PRICE OF $2.7 BILLION.
MR POPE SAID ALTHOUGH THE PRICE WAS BELOW HIS ORIGINAL ESTIMATE IN APRIL, HE WAS, IN VIEW OF RECENT EVENTS IN CHINA, SATISFIED WITH THE PRICE TENDERED.
HE POINTED OUT THAT FIVE TENDERS FROM MAJOR PROPERTY DEVELOPERS HAD BEEN RECEIVED AND THE TOTAL INVESTMENT REQUIRED FOR THE PROJECT WAS IN EXCESS OF $5 BILLION WHICH INDICATED A SIGNIFICANT INVESTMENT IN THE FUTURE.
MR POPE SAID IT HAD TAKEN UNTIL NOW TO AWARD THE TENDER AS CONSIDERATION HAD TO BE GIVEN TO THE PRELIMINARY DEVELOPMENT CONCEPT REQUIRED TO BE SUBMITTED BY THE
UNDER THE CONDITIONS OF
TENDER.
TENDERERS
"I AM WELL PLEASED WITH THE PRELIMINARY DEVELOPMENT CONCEPT AND AM SURE THAT THE BUILDING DESIGN WILL BLEND IN WELL WITH OTHER BUILDINGS IN THE AREA, HE ADDED.
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GOVERNOR TO VISIT MONG KOK TOMORROW
THE GOVERNOR, SIR DAVID WILSON, AND LADY WILSON WILL LEARN MORE ABOUT THE FUTURE REDEVELOPMENT PLANS FOR MONG KOK DURING A VISIT TO THE DISTRICT TOMORROW (THURSDAY) AFTERNOON.
THE PRINCIPAL GOVERNMENT TOWN PLANNER, DR PETER PUN, WILL BRIEF THEM ON THE LAND DEVELOPMENT CORPORATION'S PROPOSED PROJECT AT NELSON STREET.
BEFORE THE BRIEFING, SIR DAVID AND LADY WILSON WILL VISIT JUNE GARDEN, A RESIDENTIAL HOUSING PROJECT IN ΤΑΙ KOK TSUI, WHERE SIR DAVID WILL CALL ON A FAMILY.
THE PARTY WILL THEN PROCEED TO THE SYCAMORE ART GALLERY, ALSO IN TAI KOK TSUI. ORIGINALLY AN ACCESS LANE NEAR SYCAMORE STREET, THE PLACE HAS BEEN TURNED INTO AN OPEN AIR GALLERY BY THE MONG KOK DISTRICT BOARD.
OF HONG LOK TO SEE THE BIRD STALLS IN
THE COUPLE WILL THEN TAKE A WALK ALONG A SECTION STREET, COMMONLY KNOWN AS BIRD STREET, BUSINESS,
/THEY WILL
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