Response by the URA Spokesman to Media Enquiries

In response to media enquiries concerning remarks made by the Secretary for Housing, Planning and Lands regarding urban renewal policy during a luncheon meeting today, a spokesman of the Urban Renewal Authority (URA) makes the following comment:

"We welcome Government's commitment to urban renewal and fully recognise the significant financial support made by the Government to the URA. 

In implementing its projects, the URA is highly conscious of the need to achieve financial prudence and cost-effectiveness whilst discharging its social responsibility to residents and property owners affected by the projects.

It has always been our objective to ensure that the urban renewal programme should be self-financing in the long run.

In this context, we will keep our policies and operations under constant review."