The project, which should be completed by the end of 2010, willbe constructed by one of four short-listed property joint ventures,which have to submit their final bids by the end of January. Thegovernment did not release details of who the four developersare.

The 4.2-hectare Tamar site, nestled in the heart of Hong Kong'shigh-rise Downtown area, was the former British naval base andremains a prime harbourside site. The 6,000-page tender documentspells out the government's overall design objectives as well asits architectural, structural and planning requirements.

The plan has been changed several times in an attempt to dealwith opposition from planners, developers and legislators who wantto preserve the tiny city's dwindling public spaces. The proposal,first put forward in 2003, has also been attacked byconservationists who want to convert the concrete-covered plot intoa green public park. It finally gained the legislators' approval inJune.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.