The Urban Renewal Authority (URA) announced today (2 January 2025) the successful signing of a five-year Facility Agreement amounting to HK$13 billion. The facilities, which consist of a term loan and a revolving credit facility, provide the URA with the financial flexibility to execute its projects and capital improvement plans efficiently. The consortium of participating banks includes Industrial and Commercial Bank of China (Asia) Limited as Coordinator, Mizuho Bank, Ltd. Hong Kong Branch as Agent, Agricultural Bank of China Limited Hong Kong Branch, Bank of China (Hong Kong) Limited, Bank of Communications, Hong Kong Branch, China Development Bank, Hong Kong Branch, CMB Wing Lung Bank, DBS Bank Ltd Hong Kong Branch, Hang Seng Bank Limited, The Hong Kong and Shanghai Banking Corporat
The Urban Renewal Authority (URA), in collaboration with the Yau Tsim Mong District Office, launched the Flower Market Christmas Festive Event today (13 December 2024) at the Flower Market in Mong Kok with a lighting ceremony. The ceremony was officiated by District Officer (Yau Tsim Mong) Mr Edward Yu, URA Managing Director Ir Wai Chi-sing, URA Non-Executive Director Ir Janice Lai, Chairman of the Yau Tsim Mong North Area Committee Mr Daniel Au, and representative from the Hong Kong Wholesale Florist Association Mr Terence Ma, signifying the commencement of the festive celebration at the Flower Market. The URA’s Flower Market Christmas Festive Event runs from today until 5 January 2025. The URA and the Yau Tsim Mong District Office have jointly adorned the Flower Market with festiv
The Urban Renewal Authority (URA) is hosting a large-scale event, “WINTER TRANSFORM” at the “Free Space” in Kwun Tong Town Centre starting today (6 December 2024) to celebrate the festive season with the public. The lighting ceremony for the Christmas panda installations was held in the evening, infusing Kwun Tong with a joyful atmosphere and vibrant energy. The ceremony was officiated by the Guest of Honour, Ms Bernadette Linn, the Secretary for Development, in the company of URA Managing Director Ir Wai Chi-sing, Legislative Councillors Hon Tang Ka-piu and Hon Ngan Man-yu, District Officer (Kwun Tong) Mr Denny Ho, and Director of Asset Management at Sino Group Ms Bella Chhoa. Together, they activated the “power device” symbolising “vitality”, with sparkling lights connecting luminou
In response to the amendments to the Land (Compulsory Sale for Redevelopment) Ordinance (the Ordinance) which take effect today (6 December 2024) to promote private companies to redevelop aged and dilapidated private buildings, the Urban Renewal Authority (URA) launched today enhanced measures to improve the Facilitating Service Schemes of Joint Sale (the Scheme) provided by its wholly owned subsidiary the Urban Redevelopment Facilitating Services Company Limited (URFS). The application threshold for the Scheme, originally set at not less than 50% of undivided shares ownership in a building or a lot, will be lowered to 40%. Meanwhile, the joint sale thresholds are also adjusted to align with the updated compulsory sale application thresholds under the Ordinance. Cl
The Urban Renewal Authority (URA) announced today (29 October 2024) that the URA Board had decided not to award the tender for the joint venture development of Kai Tak Road / Sa Po Road Development Scheme (KC-015 Project) in Kowloon City. Upon the closing of tender submission on 20 September 2024, only one tender submission was received. After careful deliberation, the Tender Review Panel (TRP) set up under the URA Board considered that as there are additional terms being proposed in the tender submission which were found to deviate from the tender terms of the KC-015 Project, according to the established tender procedures and guidelines, the TRP recommended to the Board not to award the tender and not to open the financial proposal to carry out financial assessment of the tender submi
In response to the announcement made by the Chief Executive in the 2024 Policy Address today (16 October 2024) on the initiatives to expedite urban redevelopment and further improve building safety and building management, a spokesperson for the Urban Renewal Authority (URA) said that the URA welcomes these initiatives and will fully support their implementation. The spokesperson remarked that, in an evolving economic environment, new resources must be created, particularly by unleashing the development potential of land in old districts, to enable urban renewal work to be carried out in a sustainable and orderly manner. Over the past year, the URA has supported the Government in the implementation of various policies and measures, including the recommendations from the District Stud
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