URA Board satisfied with acquisition progress of early projects

The Board of the Urban Renewal Authority (URA) today (6 June 2002) reviewed the acquisition exercise of the three early projects in Sham Shui Po, Tai Kok Tsui and Wan Chai and was satisfied with the progress made so far.

As of today, the Authority has acquired 210 property interests, which represented 51 per cent of the total 416 interests.

Expressing appreciation for the owners' support and co-operation, Members said the latest progress was encouraging when compared with that of similar exercises in the past, which were about 30% generally.

Members also noted that staff of the URA would continue to actively negotiate with the remaining owners or their surveyor representatives with a view to reaching agreements within the next few weeks.

"It is the objective of the URA that the acquisition and clearance work should be completed within the shortest time frame in order not to delay the implementation of other projects in the pipeline," an URA spokesperson said. 

At today's meeting, Members also discussed and agreed to explore ways to revitalise the Western Market and its neighbourhood.

The Authority is planning to organise a workshop for the Western Market in July, drawing expertise and input from professionals, academics and community leaders on the future use of the Market and measures to revitalize its neighbourhood and promote the local economy.

Earlier, the Authority has invited expressions of interest for better development of the Western Market and in enhancing the characters of local community. Submissions should be sent to the Authority on or before noon of 19 June 2002.