Press Releases
Year 2012
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24 Dec 2012
Major breakthrough for URA’s demand-led redevelopment projects before deadline
The second and third demand-led redevelopment projects of the Urban Renewal Authority (URA) in Sham Shui Po and Tai Kok Tsui respectively have today (Monday) achieved a major breakthrough with owners representing more than 80 percent of the undivided shares per lot having agreed to sell their properties to URA. The Chairman of the URA, Mr Barry Cheung, congratulated the property owners on fulfilling the key term of the Authority's conditional offer within the 60-day offer period and extended his appreciation to them for their joint efforts, in particular to the shop owner in the Tai Kok Tsui project who has also agreed to sell his property to URA for redevelopment just before deadline. "Thanks to his co-operation and agreement to participate, this is extremely good news to some 300 resi
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10 Dec 2012
URA welcomes appointment of Iris Tam Siu-ying as Managing Director
The Urban Renewal Authority (URA) today (Monday) welcomes the Government's appointment, which takes effect from 1 March 2013, of Ms Iris Tam Siu-ying as Managing Director of the URA. The Chairman of the URA, Mr Barry Cheung, said: "My fellow Board members and I have been working closely with Ms Tam over the past six years, and we have been consistently impressed by her profound knowledge, insights and passion for urban renewal." Ms Tam joined the URA in 2006 as Executive Director (Planning and Project Control), and has been deputising for the Managing Director in project planning and management. Mr Cheung added: "Apart from her invaluable contribution to urban regeneration in Hong Kong, including the formulation of new policy proposals during the Urban Renewal Strategy Review, Iri
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23 Nov 2012
Invitation for Expression of Interest for Main Operator of URA’s Central Oasis revitalisation project
The Urban Renewal Authority (URA) is going to invite interested parties to submit Expressions of Interest for the Main Operator of its Central Oasis revitalisation project next Monday (26 November 2012). Standing on a 43,000 square feet site amidst the hustle and bustle of the Central district, the Central Oasis project aims to revitalise the 73-year-old, four-storey former Central Market building into a retail-cum-leisure diversified development with the provision of greeneries and quality public spaces as a new hang-out area. Parties interested in the Main Operator of Central Oasis are requested to indicate their capability and experience in facility management, leasing and marketing, building conservation and event promotions to undertake the project in accordance with the requireme
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16 Nov 2012
URA welcomes appointments to the Board
The Chairman of the Urban Renewal Authority (URA), Mr Barry Cheung, today (Friday) welcomed the appointment of Mr Dennis Kwok, and the re-appointments of Mr James To Kun-sun and Mr Wong Kwok-kin, who are all incumbent Legislative Council members, as non-executive directors (non-official) to the URA Board for a period of two years with effect from 1 December 2012. "On behalf of the Board and management of the URA, I would like to extend our warmest welcome to the newly-appointed and re-appointed members who have shown great dedication to serving the community and have rich experience in public service. While the appointments are made in their personal capacity, their involvement and participation will enhance the representativeness of the URA Board, as well as strengthen collaboration b
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9 Nov 2012
URA’s Reclamation Street/Shantung Street project: Authorisation by the Secretary for Development
The Secretary for Development (SDEV) has authorised the Urban Renewal Authority (URA) to proceed with the Reclamation Street/Shantung Street project in Mong Kok. The authorisation for the project is given under Section 24(5) of the Urban Renewal Authority Ordinance (URAO) and is published in the Gazette today (Friday). The project was implemented by way of a development project in accordance with Section 26 of the URAO. The implementation notice of the Reclamation Street/Shantung Street project was published in the Gazette on 10 February 2012 under Section 23 of the URAO. It was followed by a two-month publication period, during which written objections were received and deliberated. In accordance with Section 24(3) of the URAO, the URA submitted the Reclamation Street/Shantung Stree
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29 Oct 2012
URA unveils flat-for-flat fixed unit prices for the first demand-led project and conditional acquisition offers for two other demand-led projects in 2012/13
The Urban Renewal Authority (URA) today (Monday) announced the fixed unit prices for the flat-for-flat option for its debut demand-led project at 229A-G Hai Tan Street, Sham Shui Po, which is offered as an additional option to the domestic owner-occupiers affected by the project. On the other hand, conditional acquisition offers have been issued to property owners of two other demand-led redevelopment projects in Sham Shui Po and Tai Kok Tsui, Kowloon. The said offers were approved by the Land, Rehousing and Compensation Committee of the URA Board on 19 October 2012 after careful deliberations. Letters outlining details of the fixed unit prices for the flat-for-flat arrangement and conditional acquisition offers are issued to the eligible owners of the three demand-led projects respecti
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29 Oct 2012
URA begins property acquisition for Kowloon City Road / Sheung Heung Road project today
The Urban Renewal Authority (URA) today (Monday) issued acquisition offers to property owners of the Kowloon City Road / Sheung Heung Road project in Ma Tau Kok, Kowloon City district. Among others, eligible owner-occupiers of domestic properties affected by the project are offered $10,232 per square foot of saleable area, which is the market value of a notional seven-year-old flat, based on the assessment conducted by independent valuation consultants on 10 October 2012. The acquisition offer for the project was recently approved by the Land, Rehousing and Compensation Committee of the URA on 19 October 2012 after careful deliberations. Property owners are given 60 days to consider and accept the offer upon receiving the offer letters. The Kowloon City Road / Sheung Heung Road project
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26 Oct 2012
URA commences the first industrial building redevelopment pilot scheme project
The Urban Renewal Authority (URA) today (Friday) announced the commencement of the first industrial building redevelopment pilot scheme project in Kennedy Town of Central and Western District, which is undertaken as a prompt response to the call of the Government in February 2012 that there is a need to accelerate the renewal of old industrial areas so as to release more sites for residential or commercial development in Hong Kong. At a media briefing to announce details of the pilot scheme project, the Chairman of the URA, Mr Barry Cheung, said the Financial Secretary, in his budget speech this year, has invited the URA to take part in the redevelopment of industrial buildings in the form of a pilot scheme as many industrial buildings are situated on lots already rezoned for other uses
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24 Sep 2012
New World Development Company Limited wins development of URA’s Sai Yee Street project in Mong Kok
The Urban Renewal Authority (URA) today (Monday) announced that Up Fair Limited, a wholly-owned subsidiary of New World Development Company Limited, has won the contract for the redevelopment of Sai Yee Street project in Mong Kok by tender. The project, with a site area of about 2,478 square metres, is bounded by parts of Sai Yee Street, Nelson Street and Fa Yuen Street and situated in or near the cluster of sports retail outlets in Mong Kok. Upon completion, it is expected to deliver a residential gross floor area of 17,346 square metres providing about 290 residential units. The URA plans to provide about 50 percent of the total number of residential units with a saleable area of or less than 46.5 square metres (i.e. about 500 square feet). The project is also expected to yield a mu
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12 Sep 2012
Tender closes for Sai Yee Street development project in Mong Kok
The Urban Renewal Authority (URA) today (Wednesday) announced that a total of 12 tender offers have been received for the development of Sai Yee Street Project in Mong Kok. A tender review panel will consider the tenders received and make recommendation to the URA Board for a decision on the award of a development agreement in respect of this project. Earlier, the URA asked 18 developers to submit a tender for the development after they had put forward their expressions of interest. The project, with a site area of about 2,478 square metres, is bounded by parts of Sai Yee Street, Nelson Street and Fa Yuen Street and situated in or near the cluster of sports retail outlets in Mong Kok. Upon completion, it is expected to deliver a residential gross floor area of 17,346 square metres pr