URA Chairman Statement

With respect to the resignation of the Managing Director of the Urban Renewal Authority, Ms Iris Tam Siu-ying, tendered yesterday, the Chairman of the URA, Mr Victor So Hing-woh, makes the following statement:

The URA Board today (Tuesday) has discussed the resignation of Managing Director of the URA. The URA Board reiterated that the URA would continue to uphold its social mission to the fullest to push forward urban renewal for the benefits of more people living in the old districts.

In fulfilling its social responsibility, the URA will continue to strictly abide by its prudent financial discipline to ensure urban renewal can be implemented in a sustainable manner.  The social responsibility of URA and its financial prudence are not mutually exclusive.  They can go hand in hand as stated in the Urban Renewal Strategy given the appropriate approach with the support of Government and other stakeholders.

While we face the serious problem of urban decay and increasing financial pressure, the URA needs new ways of thinking to take forward its urban renewal mission, enabling the Authority to proceed its work in a faster and better fashion and meeting the expectation of the community.

The URA Board today expressed appreciation to the dedication and contribution of Ms Tam to the work of URA and wished Ms Tam to re-consider her resignation decision.

(ENDS)