The Development Bureau announced today that the short-term tenancy of the Central Harbourfront Event Space has been awarded to Central Grand Limited (CGL) for a fixed term of five years commencing July 1.

CGL, a joint-venture formed by Henderson Land Development Company Limited and YW Company Limited, shall manage and maintain the event space for the hosting of events pursuant to the strengthened terms and requirements on venue management. During the tenancy term, it will pay the Government a monthly rental of $1,518,000 in accordance with its tender proposal.

A two-envelope approach was adopted in the tender exercise, with the technical proposal weighted at 70% and the price proposal at 30%. A total of six submissions were received. CGL, which achieved the highest combined score for its technical and price components, was awarded the tender.

Having evaluated the six submissions, the Government considered that the large-scale signature commercial events featured in the successful tenderer’s proposal would best utilise the harbourfront resources and the site space. CGL’s proposal also outlined practical implementation plans, such as offering promotional information and discounts of other tourist attractions and gourmet hotspots in Hong Kong, with the aim of enhancing the event space’s overall appeal and extending visitors’ stays in Hong Kong.

As regards space sharing, CGL will open up the event space to the public, for free, on days when no events are held. It will also provide free facilities such as jogging trails or leisure facilities. In addition, even with ongoing commercial events or rehearsals, if more than one-third of the site area has no events taking place, CGL will open up the non-event area for public use.

Moreover, if the actual number of event days held at the event space as rented out each year falls short of the commitment, the tenant is required to pay compensation equivalent to 10% of the monthly rent of the event space for each day of shortfall, to the Government.