Cheung Kong subsidiary Grandwood Investments has won the contract for the Urban Renewal Authority's joint development project in Sham Shui Po.

Eight tender submissions were received for the development, which comprises two adjacent sites at Lai Chi Kok Road and Kweilin Street, and Yee Kuk Street, of about 36,000 square feet. Their redevelopment will provide 390 residential units, including 60 flats with elderly-friendly facilities.

About 4,100 square feet of floor area for non-government organisations specialising in services for senior citizens, 50,000 square feet of commercial floor area and 6,200 square feet of public open space will also be provided.