Press Releases
Year 2009
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31 Aug 2009
URA welcomes re-appointment of Executive Director
The Urban Renewal Authority (URA) Board today (Monday) welcomed the re-appointment of Ms Iris Tam Siu-ying as an Executive Director of the URA for another term of three years, effective from 1 September 2009. "As one of the Executive Directors of the URA, Ms Tam's vast knowledge and expertise in urban regeneration, in particular in the areas of town planning and sustainable development, are invaluable for advancing the Authority's missions," said the URA Chairman, Mr Barry Cheung. "We are now at a time when social expectations for urban renewal are rising and the Urban Renewal Strategy is under review seeking a revised direction, Ms Tam's solid experience gained in the field over last three years is definitely an asset to the URA to take forward the urban renewal programme," said Mr Che
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31 Aug 2009
URA initiates area-based revitalisation plan for Mong Kok
The Urban Renewal Authority (URA) announced today that it proposed to implement a major revitalisation plan at a cost close to $100 million to uphold and enhance the local characters of a number of themed streets in Mong Kok. Input and support from the Yau Tsim Mong District Council and the local community will be sought to finalise the plan. The URA has been invited by the Government to implement some improvement projects under the "Area Improvement Plan for the Shopping Areas of Mong Kok", which was studied by the Planning Department between February 2006 and May 2009. Public consultation was also conducted and the public is generally supportive of the proposal. On the basis of the Government's area improvement plan, the URA has taken a step further and expanded the scope to an ar
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31 Aug 2009
Invitation to tender for development of Yuet Wah Street Site, Kwun Tong
The Urban Renewal Authority (URA) today (Monday) invited a total of 14 property developers/consortia to tender for the joint development of the Yuet Wah Street Site in Kwun Tong. The site is located at the junction of Hip Wo Street and Yuet Wah Street, Kwun Tong covering an area of about 4,326 square metres. Upon completion, it is expected to deliver a maximum gross floor area of about 27,830 square metres for residential and Government, Institution and Community uses. Following the expression of interest exercise which was closed on 10 July 2009, 15 submissions were received by the Authority. A tender review panel under the URA Board has decided to invite 14 interested parties for tender, after taking into consideration their experience and financial strength to undertake the develo
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21 Aug 2009
URA opens Multimedia Exploration Centre
The Secretary for Development, Mrs Carrie Lam, and the Chairman of the Urban Renewal Authority (URA), Mr Barry Cheung, today (Friday) officiated at the opening ceremony of the Authority's Urban Renewal Exploration Centre (UREC). Featuring multimedia facilities and interactive activities, the cyber-designed centre has on display exhibits and mock-up tenements such as a caged home and a partitioned room, where visitors can actually experience the poor living environment of residents in old districts. Visitors are encouraged to offer opinions and suggestions regarding the topic of urban renewal during their visit. At the opening ceremony, Mr Cheung said: "A key objective of the Exploration Centre is to support and enhance public understanding of the complex issue of urban renewal in Hon
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21 Jul 2009
First bond issue of URA receives enthusiastic support
The Urban Renewal Authority (URA) today (Tuesday) announced its debut issue of HK$1,500,000,000 three-year fixed rate bonds following the recent successful establishment of a Medium Term Note (MTN) Programme. Speaking at the bond issuing ceremony this afternoon, the Chairman of the URA, Mr Barry Cheung, said: "The MTN Programme is a milestone for the Authority since it came into operation in 2001. All along, we have been taking a prudent approach in financial management to ensure that our urban renewal initiatives are being undertaken in a cost-effective manner. We previously relied solely on bank facilities to meet our funding needs." In this regard, we have been exploring additional options to raise funds for our present and future projects. Riding on the current capital market en
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10 Jul 2009
Result of Expression of Interest URA Development Project at Yuet Wah Street, Kwun Tong
The Urban Renewal Authority (URA) received a total of 15 expressions of interest in the joint venture development project at Yuet Wah Street in Kwun Tong on the closing date today (Friday). A tender review panel under the URA Board will shortlist the qualified parties and invite them to submit a tender for the joint venture development project. It is expected that the tender exercise will take place in the near future. The site is located at the junction of Hip Wo Street and Yuet Wah Street, Kwun Tong covering an area of about 4,326 square metres. Upon completion, it is expected to deliver a maximum gross floor area of about 27,830 square metres for residential and Government, Institution and Community uses. ENDS
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2 Jul 2009
Invitation for Expression of Interest: Proposed Development at Yuet Wah Street, Kwun Tong
The Urban Renewal Authority (URA) will invite interested parties to submit Expressions of Interest (EOI) in the joint development of the Yuet Wah Street Site in Kwun Tong beginning tomorrow (Friday). The site is located at the junction of Hip Wo Street and Yuet Wah Street, Kwun Tong covering an area of about 4,326 square metres. It is expected to deliver a maximum gross floor area of about 27,830 square metres for residential and Government, Institution and Community uses. Parties interested in the development of the Yuet Wah Street Site of Kwun Tong Town Centre project are requested to indicate their development experience and financial capability to undertake the development in accordance with the requirements and criteria set by the Authority. Submission should be made to the UR
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26 Jun 2009
Planning procedures for Sham Shui Po project to commence
The Urban Renewal Authority (URA) today (Friday) commenced the statutory planning procedures for a new project at a development cost of $ 424 million in Sham Shui Po, giving a further boost to regenerate the district where comprehensive urban renewal initiatives have been implemented. Speaking at a media briefing for the new project, Director (Acquisition & Clearance) of the URA, Mr Joseph Lee, said: "Over the years, a total of 12 redevelopment projects involving 156 buildings have been implemented by the URA in Sham Shui Po, five in collaboration with the Housing Society (HS), to help improve the living environment of some 2,240 households." Sham Shui Po will see a major facelift in the next few years upon the gradual completion of all these projects, Mr Lee said. Besides, some 86
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23 Jun 2009
Sino Land Company Limited and Hopewell Holdings Limited win Lee Tung Street/McGregor Steet redevelopment project
The Urban Renewal Authority (URA) today (Tuesday) announced that a consortium Grand Site Development Limited consisting of two consortium members, Sino Land Company Limited and Hopewell Holdings Limited, has won the joint development contract for the Lee Tung Street/McGregor Street project in Wan Chai in a public tender exercise. The project covers a site area of about 88,500 square feet and upon completion, is expected to deliver a maximum gross floor area of about 835,000 square feet for residential and commercial uses, together with public open space, a residential care home for the elderly and conservation of three historical buildings. Grand Site Development Limited is one of the six tender submissions received for the joint venture project. The Board after careful consideration
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15 Jun 2009
Tender closes for Lee Tung Street/McGregor Street project in Wan Chai
In response to media enquiries on the tender submissions for the joint venture development of the Lee Tung Street/McGregor Street project in Wan Chai, the Urban Renewal Authority (URA) today (Monday) made the following statement: A total of six tender offers have been received for the joint venture development of the Lee Tung Street/McGregor Street project in Wan Chai. A tender review panel will consider the tenders and make recommendation to the URA Board for a decision in due course. All the 15 developers who earlier took part in an expression of interest exercise for the project were invited to submit a tender. The project covers a site area of about 88,500 square feet. Upon completion, it is expected to deliver a maximum gross floor area of about 835,000 square feet for resid