Central Wisdom, a wholly-owned subsidiary of Sino Land, has won the joint development contract for the Yuet Wah Street Site in Kwun Tong in a public tender exercise, the Urban Renewal Authority announced today.

The site is located at the junction of Yuet Wah Street and Hip Wo Street, covering an area of 4,326 square metres. It is expected to deliver a maximum gross floor area of 27,830 square metres for residential, government, institution and community uses.

The authority said today Sino Land's offer met all the tender requirements and represented the best benefits.

There are 21 trees in the Yuet Wah Street Site. Thirteen will be transplanted while eight will be felled, and compensatory trees will be provided. There will be 71 trees in the new development.