Press Releases
Year 2012
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4 May 2012
Invitation to tender for development of Pak Tai Street / Mok Cheong Street Project in Ma Tau Kok
The Urban Renewal Authority (URA) today (Friday) invited a total of 16 property developers to tender for the development of Pak Tai Street / Mok Cheong Street project in Ma Tau Kok. The project covers a total area of about 770 square metres. Upon completion, it is planned to deliver a total gross floor area of about 6,940 square metres for an estimated total of 92 residential units, together with the provision of commercial space of about 1,150 square metres. The URA intends to provide about 50% of the total number of residential units in the project with a saleable area of or less than 46.5 square metres, i.e. about 500 square feet. Following the expression of interest exercise which was closed on 20 April 2012, a tender review panel under the URA Board has decided to invite 16 interes
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30 Apr 2012
Cheung Kong (Holdings) Limited wins URA Project for Site B of Peel Street/Graham Street in Central
The Urban Renewal Authority (URA) today (Monday) announced that King Century Investments Limited, a wholly-owned subsidiary of Cheung Kong (Holdings) Limited, has won the contract for the development of Site B of Peel Street / Graham Street project in Central by public tender. The project comprises a total of three sites known as Site A, Site B and Site C for phased implementation. The first phase, Site B, is bounded by Peel Street, Gage Street and Graham Street covering a site area of about 1,690 square metres. It is planned that Site B will provide a maximum gross floor area of about 17,790 square metres for residential and commercial purposes, together with the provision of public open space. Cheung Kong (Holdings) Limited is one of the eight tender submissions received for the abo
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27 Apr 2012
Property acquisition for Fuk Wing Street project to start early next month
The Land, Rehousing and Compensation Committee of the Urban Renewal Authority (URA) Board has deliberated and approved today (Friday) that eligible owner-occupiers of domestic properties affected by the Fuk Wing Street project in Sham Shui Po will be offered $8,398 per square foot of saleable area, which is the assessed market value of a notional seven-year-old flat. The URA will issue offer letters to property owners early next month, who will then have 60 days to consider and accept the offers. The Fuk Wing Street project in Sham Shui Po affects a total of 32 property interests, including about 110 households and nine non-domestic operators. The acquisition offers for domestic properties are calculated in accordance with the Government's Home Purchase Allowance (HPA) policy in whic
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26 Apr 2012
First Urban Renewal Resource Centre of the URA opens
The first Urban Renewal Resource Centre (URRC), set up by the Urban Renewal Authority (URA) in Tai Kok Tsui, began its one-stop-shop service with its opening by the Chief Executive of the Hong Kong Special Administrative Region, Mr Donald Tsang, this (Thursday) afternoon. Also officiating at the opening were the Secretary for Development, Mrs Carrie Lam, and the Chairman of the URA, Mr Barry Cheung. Guests attending included District Council members, Government officials, and URA Board members and management. Speaking at the ceremony, Mr Cheung thanked the Chief Executive, the administration and District Councils for the staunch support given to URA in making many major urban renewal initiatives possible, thereby improving the living environment of over 90,000 residents in old dist
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20 Apr 2012
Result of Expression of Interest for Development of Pak Tai Street/Mok Cheong Street Project in Ma Tau Kok
The Urban Renewal Authority (URA) received a total of 16 Expressions of Interest for the development of Pak Tai Street/Mok Cheong Street project in Ma Tau Kok on the closing date today (Friday). A tender review panel under the URA Board will shortlist qualified companies and invite them to submit tenders for the development. The tender exercise will take place in the near future. The Pak Tai Street/Mok Cheong Street project covers a total area of about 770 square metres. The project upon completion is planned to deliver a total gross floor area of about 6,940 square metres for an estimated total of 92 residential units, together with the provision of commercial space of about 1,150 square metres. The URA intends to provide about 50% of the total number of residential units in the p
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20 Apr 2012
URA commences three demand-led redevelopment projects
Adopting an important initiative promulgated in the new Urban Renewal Strategy (URS) to take a diverse form in redevelopment and quicken its pace, the Urban Renewal Authority (URA) has today (Friday) made its debut for the commencement of the planning procedures for three demand-led redevelopment projects. The Secretary for Development, Mrs Carrie Lam, and the Chairman of the URA, Mr Barry Cheung, witnessed this important milestone in urban renewal at a joint media briefing this morning to announce details of the three projects. Speaking at the briefing session, Mr Cheung said the demand-led model had exemplified a "bottom-up" approach with great emphasis on people first under the URS. It provides an opportunity for owners to initiate redevelopment of their own properties. He describ
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18 Apr 2012
Tender closes for Development of Site B of Peel Street/Graham Street Project in Central
The Urban Renewal Authority (URA) today (Wednesday) announced that a total of eight tender offers have been received for the development of Site B of Peel Street / Graham Street project in Central. 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 invited expressions of interest from developers and had asked 18 developers to submit a tender for the development. The Peel Street / Graham Street project comprises a total of three sites known as Site A, Site B and Site C for phased implementation. The first phase, Site B, is bounded by Peel Street, Gage Street and Graham Street covering a site area of about 1,690 square metres. It is planned
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12 Apr 2012
Invitation for Expression of Interest for Development of Pak Tai Street/Mok Cheong Street Project in Ma Tau Kok
The Urban Renewal Authority (URA) tomorrow (Friday) will invite interested parties to submit Expressions of Interest for the development of Pak Tai Street/Mok Cheong Street Project in Ma Tau Kok. The Pak Tai Street/Mok Cheong Street project covers a total area of about 770 square metres. The site is presently occupied by five buildings that were all built in the 1950's and are in a generally dilapidated condition. There are also unauthorized structures and the buildings are mostly served by staircases without lift facilities. The project upon completion is planned to deliver a total gross floor area of about 6,940 square metres for an estimated total of 92 residential units, together with the provision of commercial space of about 1,150 square metres. The URA intends to provide about
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2 Apr 2012
URA encourages students’ creation and community art performance for better understanding of the renewal of old districts
The prize presentation ceremony of the "Old District Discovery" Video Competition cum the Community Drama Competition organised by the Urban Renewal Authority (URA) was successfully held at the Youth Square in Chai Wan on 30 March 2012. "These two activities aim to enhance the understanding of the younger generation and the community about the renewal of old districts through film art and performing art," said a spokesperson for the URA. With the theme of "Old District Discovery", the video competition held between October 2011 and February 2012 has received overwhelming response. Nearly 30 secondary schools participated to compete for the champion, first runner-up, second runner-up, and the awards of the Best Screenplay, Best Cinematography, Best Film Editing, Most Creative Video and M
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30 Mar 2012
Integrated Building Maintenance Assistance Scheme to relax rateable value limits for applications
The Urban Renewal Authority (URA) and the Hong Kong Housing Society (HKHS) announced that with effect from 1 April 2012, the rateable value limits for the application of the Integrated Building Maintenance Assistance Scheme (IBMAS) will be revised to benefit more property owners. As a result of the adjustment, the average rateable value limit of residential units in urban areas (including Tsuen Wan, Kwai Tsing and Shatin) will be lifted from $100,000 to $120,000, while the ceiling for properties in the New Territories will be increased from $76,000 to $92,000. This will result in a potential increase of close to 1,000 buildings becoming eligible for applying for assistance under the IBMAS. The IBMAS was launched by the URA and HKHS in April 2011 to consolidate the financial assistance