More work to come at Ocean Park starting with first hotel

Projects, Slider 10 May 2013
More work to come at Ocean Park starting with first hotel

Danny Chung

Contractors can look forward to a new raft of projects at Ocean Park starting with the development of its first hotel once the theme park completes its assessment of the bids received and announces the winner.

The tender for Ocean Hotel saw keen interest from developers with a total of seven tenders received when the tender process closed Wednesday, the government owned Ocean Park said in a press release.

Among the bidders are Lai Sun Development (0488) and Sino Land (0083).

The healthy response from developers was in sharp contrast to the previous tender exercise in 2011 when the high land premium demanded by the government scared off bidders.

This time round though, tenderers were allowed to bid what they could afford in premium as part of the tender submission.

Ocean Park said it would start assessing the tenders and clarifications from the tenderers.

“We are very excited at the number of developers who have shown interest in the tender exercise and a meticulous assessment process will now be underway to determine the best proposal for the benefit of Ocean Park and the people of Hong Kong,” Ocean Park chairman Allan Zeman said.

The company did not say when it would finish the assessment and announce the winner.

The successful bidder will be required to build a 495-room hotel on a 17,044 square metre (183,462 square feet) site near the park’s New Entry Plaza.

Completion of the hotel is set for 2016.

Ocean Park's first hotel Ocean Hotel is scheduled for completion in 2016.  (Ocean Park)

Ocean Park’s first hotel Ocean Hotel is scheduled for completion in 2016. (Ocean Park)

Tenderers were required to submit a technical and a financial proposal that would be given a weighting of 65 percent and 35 percent respectively in the tender assessment.

Tenders that were awarded a score that exceeded a passing score in the technical proposal would then have their financial proposals assessed.

The bidder who offered the highest land premium would then be selected as “Most Preferred Proponent” and win the tender.

The hotel will be developed under a build-operate-transfer arrangement.

Ocean Park is also planning a second hotel, the Fisherman’s Wharf Hotel with about 450 rooms, which would be located within a new attraction Water World.

The Town Planning Board granted planning permission for the development of three hotels, Ocean Hotel, Fisherman’s Wharf Hotel and Spa Hotel in December 2008.

In addition to the hotels, Ocean Park is also planning to build a new attraction Water World.

Last February in his budget for the financial year 2013-14, Financial Secretary John Tsang Chun-wah said the government would provide a loan of HK$2.3 billion to fund the construction of Water World.

The MTR Corporation (0066) is currently building the South Island Line from Admiralty to South Horizons at Aberdeen with a station to be built at Ocean Park.

 

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