Sun Hung Kai Properties, Chinachem Group may bid in rare ‘two-envelope’ tender for prime commercial plot next to Hong Kong’s IFC

//Sun Hung Kai Properties, Chinachem Group may bid in rare ‘two-envelope’ tender for prime commercial plot next to Hong Kong’s IFC

Sun Hung Kai Properties, Chinachem Group may bid in rare ‘two-envelope’ tender for prime commercial plot next to Hong Kong’s IFC

Hong Kong’s biggest developer by value, Sun Hung Kai Properties, and Chinachem Group said they may bid for a prime plot of commercial land to be sold via a rare tender process that takes into account participants’ design plans as well as cash bids.The government is using a “two-envelope” approach for the sale of New Central Harbourfront Site 3, meaning the winner will be determined by assessing both price and design proposal. This deviates from the practice of awarding sites based on the…

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By | 2020-12-18T14:37:51+00:00 December 18th, 2020|Business|Comments Off on Sun Hung Kai Properties, Chinachem Group may bid in rare ‘two-envelope’ tender for prime commercial plot next to Hong Kong’s IFC