Cyberport close to retail centre deal
hk-imail.singtao.com
CYBERPORT Management is close to awarding the main construction contract for the eye-catching retail centre at the Cyberport development at Telegraph Bay.
The firm, which is implementing the Cyberport project for parent company Pacific Century CyberWorks (0008), received tenders in mid-December from a raft of contractors.
These are thought to include Gammon Construction, Leighton Contractors and Paul Y Construction.
CyberPort Management project director John Latter told iBusiness that the retail centre ``will be a very airy building'' with a fabric roof and skylights.
Contractors have taken two approaches to what is a ``technically challenging'' scheme - those who really want to build it and developed their bids accordingly and those who'd prefer not to be involved.
Mr Latter said overall construction of the Cyberport project is currently within the $15.2 billion budget agreed between PCCW and the government.
``Prices in the construction market are stable. The budget is looking OK, although we rather hoped prices were lower,'' he said.
The Cyberport project, with the first phase due for completion by the end of 2002, has managed to avoid the cash and financing problems that have beset PCCW.
On Thursday, PCCW said it had postponed its underwater global fibre project, 1 Cyber-Network, and also scrapped the launch of any new Internet protocol backbone project until it can raise cash.
PCCW is currently arranging US$4.7 billion (HK$36.66 billion) worth of refinancing, due by February 15.
Mr Latter said the retail complex has been designed by US architect, the Jerde Partnership International which designed the Peak Galleria including Cafe Deco, Jakarta's Batam Centre and the Malacca waterfront complex in Malaysia.
The retail centre, which will include bars, restaurants and shops, will be open to both Cyberport residents and visitors.
Mr Latter said CyberPort Management is ``working very hard with Jerde'' to identify the types of facilities that should be included to serve different culinary tastes.
The retail centre is the second key building to go-ahead at the site. PaulY Construction is already working on a $1 billion contract to build one of the main office buildings.
CyberPort Management has two other main construction contracts underway together with three piling projects.
Australia's Leighton Contractors (Asia) is building approach roads and associated infrastructure, while Hsin Chong Construction is building a sewage treatment plant. Various suppliers, such as Schindler Lifts, Chevalier and Johnson Controls, have won subcontracts at the site.
Mr Latter said there were ``some raised eyebrows'' when PaulY Construction was awarded both the advance works contract and then the hotel project because of the firm's connection as the Li family's favoured contractor. PaulY Construction built the Cheung Kong Center in Queen's Road.
16 January 2001 / 02:13 AM |
