Press Releases
Year 2017
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23 Jun 2017
URA welcomes re-appointment of Michael Ma as Executive Director
The Urban Renewal Authority (URA) today (Friday) welcomes the Government's re-appointment of Mr Michael Ma Chiu-tsee as Executive Director of the URA for a new term of three years, effective 15 July 2017. "As one of the Executive Directors of the URA, Mr Ma has profound knowledge and expertise in urban regeneration, particularly in the area of town planning, which are essential for taking forward urban renewal and tackling the growing problem of urban decay in Hong Kong. The URA has, in the past year, commenced several redevelopment projects in the To Kwa Wan area under a district-based planning approach with a view to improving the built environment and providing better facilities for the community. Mr Ma has been playing a crucial role in formulating the related planning and design of
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13 Jun 2017
URA Board approves refinements to its three rehabilitation schemes
The Board of the Urban Renewal Authority today (Tuesday) approved a number of refinements to its three rehabilitation schemes, which are Smart Tender Building Rehabilitation Facilitating Service Scheme (Smart Tender), Integrated Building Maintenance Assistance Scheme (IBMAS) and Mandatory Building Inspection Subsidy Scheme (MBISS), with a view to encouraging more property owners to carry out building rehabilitation work. IBMAS and MBISS are URA's rehabilitation schemes providing assistance to owners for building rehabilitation works and mandatory building inspection. The current average annual rateable value (RV) limits, at or below which IBMAS and MBISS are applicable, have been adopted as one of the joining criteria for IBMAS and MBISS. Under the refinements and with effect from toda
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13 Jun 2017
Chevalier Pacific Limited wins development contract of URA’s Fuk Chak Street/Li Tak Street demand-led redevelopment project
The Urban Renewal Authority (URA) today (Tuesday) announced that Chevalier Pacific Limited, a wholly-owned subsidiary of Chevalier International Holdings Limited, has won the contract for the development of Fuk Chak Street/Li Tak Street demand-led redevelopment project in Tai Kok Tsui. The URA earlier invited a number of qualified property developers to submit tenders for the project following an Expression of Interest exercise. The URA received a total of 14 tenders when the submission of tender closed on 25 May 2017. After careful deliberation, the URA Board considered that the tender offer made by Chevalier Pacific Limited has met the tender requirements of the project and thus decided to award the development contract to Chevalier Pacific Limited. The project site, which covers an
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13 Jun 2017
URA Board approves enhancements to policies for ex-gratia payment and rehousing
The Board of the Urban Renewal Authority today (Tuesday) approved enhancements to the policies for ex-gratia payment and rehousing to domestic tenants, as well as ex-gratia payment to non-domestic tenants and non-domestic owner-occupiers, who are affected by its redevelopment projects. These enhancements, which take effect from today, aim at helping the domestic tenants to improve their living conditions, especially those living in subdivided units and cubicles. Considerations have also been given to the domestic and non-domestic tenants, who are evicted by their landlords prior to acquisition of the properties by the URA. Speaking at a media briefing today, Director (Acquisition and Clearance) of the URA, Mr Ian Wong, said: "Many of the affected residents are living in sub-divided
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25 May 2017
14 tenders received for URA’s Fuk Chak Street/Li Tak Street demand-led redevelopment project
The Urban Renewal Authority (URA) received a total of 14 tenders for the Fuk Chak Street/Li Tak Street demand-led redevelopment project in Tai Kok Tsui when the invitation for submission of tender closed today (Thursday). A tender review panel (TRP) under the URA Board will consider the tenders received and make recommendation to the URA Board for its decision on the award of tender for the project. The URA earlier invited interested developers to submit Expressions of Interest for the tender of the project. After careful consideration of the Expressions of Interest received, the TRP invited 28 property developers to tender for the project. The project site, which covers an area of 768 square metres, was commenced in June 2013 under the second round of the URA's Demand-led Redevelo
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10 May 2017
URA’s Man On Street/Tai Kok Tsui Road demand-led project aborted as 80% threshold could not be met
The Urban Renewal Authority (URA) announced that it would not implement the Man On Street/Tai Kok Tsui Road demand-led redevelopment project. The project consists of 16 lots, each lot sharing a common staircase with the adjoining lot, in 8 clusters. There is a condition precedent for implementation of the project namely, there must be owners holding no less than 80% of the undivided shares in each cluster accepting acquisition offers issued by URA and signing Conditional Sale and Purchase Agreements with URA, both within 75 days of issue of acquisition offers by URA (80% Condition Precedent). The 80% Condition Precedent expires today (Wednesday) and could not be fulfilled by the owners. Located at Nos. 8 - 30 Man On Street (even numbers) and Nos. 193 - 199 Tai Kok Tsui Road (odd numb
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27 Apr 2017
16 units in URA’s Kai Tak development sold in open market sale
The Urban Renewal Authority (URA) today (Thursday) sold all 16 units in its Kai Tak development in the open market at the prevailing market prices. Interested parties who have submitted to the URA the Registrations of Intent by 24 April 2017 were invited to the Sales Office at No.6 Fuk Tsun Street in Tai Kok Tsui today (27 April 2017) for flat selection and purchase according to the order of priority determined by balloting conducted on 25 April 2017. The URA has entered into preliminary agreements for sale and purchase (PASP) with the respective purchasers of all 16 units. It targets to complete the assignment of the properties with the respective purchasers 90 days after signing of the PASP. The 16 flats range from 442 square feet to 562 square feet in saleable area, comprising 1
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25 Apr 2017
Invitation to Tender for Development of URA’s Fuk Chak Street/Li Tak Street Demand-led Redevelopment Project
The Urban Renewal Authority (URA) today (Tuesday) invited a total of 28 property developers to tender for the development of Fuk Chak Street/Li Tak Street demand-led redevelopment project in Tai Kok Tsui. The URA earlier invited interested developers to submit Expressions of Interest for the development, and a total of 28 submissions were received when the expression of interest exercise closed on 20 March 2017. After careful consideration, a tender review panel under the URA Board has decided to invite 28 qualified property developers to tender for the project. The URA will provide the relevant tender documents and principal tender terms approved earlier by the URA Board to the qualified developers, based on which they can submit tenders for the development. All tender submissions sh
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19 Apr 2017
URA announces open market sale of 16 flats in Kai Tak development
The Urban Renewal Authority (URA) today (Wednesday) announces the sales arrangements and price list of 16 flats in its Kai Tak development for sale in the open market. In compliance with the Residential Properties (First-hand Sales) Ordinance, the URA uploaded the sales brochure and price list to the Kai Tak development website (www.urakaitak.hk) and the Sales of First-hand Residential Properties Electronic Platform. The 16 flats range from 442 square feet to 562 square feet in saleable area, comprising 1 one-bedroom and 15 two-bedroom units. The selling prices range from $6.967 million to $8.98 million, or about $15,043 to $16,450 per square foot in saleable area. Interested parties can submit the Registration of Intent at the Sales Office of the URA's Kai Tak development, located
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29 Mar 2017
URA welcomes Government’s approval of land grant in support of the revitalisation of Central Market
The Urban Renewal Authority (URA) today (Wednesday) welcomes the approval-in-principle of the Chief Executive-in-Council for granting the site of the former Central Market to URA for 21 years by way of private treaty for the revitalisation of the building and its future operation. The URA was tasked by the Government in the Policy Address 2009 of the Chief Executive to revitalise the former Central Market building to provide diversified uses and greening for public enjoyment. The URA then set up the Community Advisory Committee to conduct an extensive public engagement exercise from 2009 to 2011 to collect views and gauge public aspirations on the future use and operation of the revitalised Central Market building. In 2015, the URA announced that it would adopt a simplified version of