NEWS & EVENTS
URA AND CHINACHEM GROUP SIGN OPERATION CONTRACT FOR CENTRAL MARKET 1 March 2021
The Urban Renewal Authority (URA) and Noble Vantage Ltd., a member company of Chinachem Group, signed the operation contract for the Central Market Revitalisation project. The URA and Chinachem will jointly take up the project’s operation and management.
grown start-ups in the innovation and technology sector, serving another step towards digital transformation across the property development industry.”
In addition, the Enertainer’s data storage capability and Internet of Things (IoT) technology empower construction teams to make critical decisions based on data. The ability to view the Enertainer’s operation and performance data at a glance allows the Group and its contractors to review the performance of a construction site and its equipment holistically for better planning and operational efficiency. This initiative thus contributes to the digitisation of traditional construction methods from a people-based industry to a people-plus- data driven one. By doing so, the Group not only leads the way in improving the community’s living environment around construction sites and providing a better work environment for staff, but it can also enhance the construction industry with innovation data analytics.
The Enertainer is an advanced energy storage system that provides diesel- free power and safer energy production. Compared to traditional diesel generators, it is smaller in size, 32 times quieter and produces up to 85 per cent less carbon emissions. It has a zero-charging downtime capability with its auto-recharging ability and its internet enabled design enables next generation features such as software updates and remote telematics.
Held at the conserved Central Market building, the signing ceremony was officiated by the Managing Director of the URA, Ir Wai Chi-sing, and the Executive Director and Chief Executive Officer of Chinachem, Mr Donald Choi.
Speaking at the signing ceremony, Ir Wai said, “Central Market was an epoch-making architecture in the 1930s, materializing the spirit of innovation through the pioneering use of construction materials, the functional style of architectural design as well as the operating model of a market at that time.
Since taking up the Central Market building from the Government in October 2017, the URA commenced restoration and preservation works for this 80-year-old building with the application of innovative measures, which included the restoration
methods, repair materials, as well as project management software, aiming to enhance both the work quality and efficiency. It took the URA over three years to complete the first phase of rehabilitation and preservation works.
Executive Director and Chief Executive Officer of Chinachem, Mr Donald Choi said, “Central Market symbolises the Hong Kong-style market culture, which is full of Hongkongers’ collective memory. The Group will adopt an innovative approach by integrating elements of heritage conservation into the design to enhance the historical uniqueness of Central Market.
Both the URA and Chinachem are conscious to avoid excessive consumerism and profit- maximising in the operation of the Central Market. A portion of the floor area of the project has already been earmarked for public and community uses, including a 24- hour public passageway, toilet facilities and green open spaces totalling about 1,000 square metres.
A joint management committee has been set up by the URA and Chinachem to devise implementation details of the business plan. The URA will closely monitor the performance and operational effectiveness of the main operator.
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