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August
Investors' Expressions of Interest due by August 15

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Private investors have one more week to submit Expressions of Interest for the first two projects of the Government's Private Sector Finance Scheme.

The pilot projects are an ice sports centre and town park in Tseung Kwan O and a leisure and cultural centre in Kwun Tong.

Two briefings on the projects by the Leisure and Cultural Services Department attracted 52 private investors. The department said the response was encouraging.

The projects are in line with the principle of "Big Market, Small Government" mentioned in the Chief Executive's Policy Address.

They not only allow more efficient use of Government resources, but also speed up the delivery of facilities for public use.

Under the Private Sector Finance Scheme, private investors are required to design, build and manage leisure and cultural facilities on a self-financing basis for use by the public.

To ensure the commercial viability of the projects, investors can propose facilities such as shopping malls, restaurants and hotels, as long as they are permissible under the relevant Outline Zoning Plans.

Income from the commercial facilities can be used to subsidise the cost of building and operating the required leisure and cultural facilities.

Details of the two projects were gazetted on July 11. Interested companies are invited to submit development proposals to the department by August 15. Late submissions will not be considered.

Upon receiving the Expressions of Interest, the department will formulate a development brief on the uses of the two sites and seek the endorsement of the Town Planning Board.

The Tseung Kwan O project, located on a 6.8-hectare plot in Area 45, will include an ice-skating rink (61m x 30m) with spectator stands suitable for international ice-sports competitions. There will also be an ancillary ice rink of a similar size, a town park and other related facilities.

The Kwun Tong leisure and cultural centre will be located on a 2.27-hectare plot at the junction of Tsui Ping Road and Lei Yue Mun Road. It will accommodate a bowling centre with at least 40 lanes and seating, a swimming pool complex with indoor heated pools replacing the existing Kwun Tong Swimming Pool, and a cultural complex.

Private investors can call 2601 8768 or visit www.lcsd.gov.hk to obtain the Expressions of Interest documents or make further enquiries.

End/Thursday, August 7, 2003

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