Hong Kong's Urban Renewal Authority received nine bids from developers at the Oct. 9 closing of the tender submission period for a 2,685-square-meter site in the special administrative region's Central district.

The government agency said a tender review panel will now assess the submitted bids, noting that it invited 27 developers/consortia to submit tenders for the site C portion of the development, which forms part of the larger 5,330-square-meter Peel Street/Graham Street project.

Upon completion — which, according to The (Hong Kong) Standard, is expected by 2021 — the site C space will have office, hotel and retail elements amounting to 40,275 square meters, along with an open area for the public that will measure no less than 1,310 square meters, the government agency added.

According to the publication, CK Asset Holdings Ltd., Sun Hung Kai Properties Ltd., New World Development Co. Ltd., Wheelock Properties Ltd., Henderson Land Development Co. Ltd., Wing Tai Properties Ltd., Great Eagle Holdings Ltd., Kerry Properties Ltd., and a partnership between Sino Land Co. Ltd. and Lifestyle China Group Ltd. submitted bids for site C, which could fetch more than HK$10 billion.

The Oct. 10 report added that the developer who clinches the site C tender will be mandated to preserve Wing Woo Grocery at 120 Wellington St., which has been in operation for upwards of 80 years.

In March, a Sino Land subsidiary was awarded the tender for site A, the Peel Street/Graham Street project's residential component, development of which is also expected to be completed by 2021. Site B is still being constructed, with completion slated for within 2017, the Urban Renewal Authority added.