Henderson Land joint venture to operate Central Harbourfront Event Space
Joint venture between property developer and YW Company beat five other bidders for prime site that hosts events such as Clockenflap and Wine and Dine Festival
A Henderson Land Development joint venture has won a five-year contract to operate the Central Harbourfront Event Space in Hong Kong, with a clause requiring the government to be compensated if the number of events falls short of its commitment.
The Development Bureau announced on Thursday that Central Grand Limited (CGL), a joint venture between the property developer and concert organiser YW Company, or “Yiu Wing”, beat five other bidders for the prime site, which hosts major events such as the annual Clockenflap music festival and the Wine and Dine Festival.
CGL promised in a statement to establish a “robust vetting process” to ensure events met required standards while the latest tenancy agreement also requires the company to keep the grounds open to the public when no commercial events are taking place.
The bureau used a “two-envelope” approach to the tender, which included a technical proposal weighted at 70 per cent and a price proposal at 30 per cent. In the previous tender, the technical proposal was weighted at only 40 per cent.
After evaluating the six bids, the bureau said large-scale commercial events featured in CGL’s proposal would “best utilise the harbourfront resources and the site space”.
It would also help promote the mega-event economy and “enhance the vibrancy of the harbourfront”.