Press Releases
Year 2009
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11 May 2009
URA Policy on Environmental Sustainability
The Board of the Urban Renewal Authority (URA) today (Monday) endorsed a comprehensive policy on environmental sustainability to formalize and enhance its commitment to fostering a quality living environment in Hong Kong. This policy will be applicable to its future urban renewal initiatives. The Lee Tung Street project in Wan Chai will be the first one implementing this enhanced policy. Speaking at a media briefing on the enhanced policy, the Chairman of the URA, Mr Barry Cheung, said: "I hope that this policy, which has grown out of URA's environmental initiatives to date, references to overseas experience, relevant existing environmental technology and advice from consultants, will arouse public awareness of protecting the environment. In doing so, we aim to set an example for the
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4 May 2009
Invitation to Tender for Lee Tung Street / McGregor Street Project in Wan Chai
The Urban Renewal Authority (URA) today (Monday) invited a total of 15 property developers/consortia to tender for the joint development of the Lee Tung Street/McGregor Street project in Wan Chai. 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 residential and commercial uses, together with public open space, a residential care home for the elderly and conservation of three historical buildings. The Lee Tung Street/McGregor Street project is one of the key URA projects in Wan Chai, which incorporates redevelopment, conservation and revitalisation elements. The project will feature some "Wedding City" themed shops and a wedding traditions and culture gallery in the three
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30 Mar 2009
Kwun Tong project achieves good acquisition records
The Urban Renewal Authority (URA) has acquired 1,088 property interests, or about 66 percent of the total 1,653 property interests, for the implementation of the Kwun Tong Town Centre project when the 90-day offer period lapsed today (Monday). Director of Acquisition and Clearance of the URA, Mr Joseph Lee, said: "We are pleased with the progress of the acquisition made so far, which demonstrates the enthusiastic support and co-operation of the property owners in taking off the project. It also shows that the offer price of the URA is fair and reasonable." Describing the overall acquisition rate for the project as encouraging, Mr Lee noted that the figure for owner-occupiers of domestic properties alone is 97 percent. "After all, owner-occupiers are generally anxious to improve thei
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24 Mar 2009
Result of Expression of Interest in URA's Lee Tung Street / McGregor Street Project in Wan Chai
In response to media enquiries today (Tuesday) on the result of the expression of interest exercise for the Lee Tung Street/McGregor Street joint development project in Wan Chai, a spokesman of the Urban Renewal Authority (URA) said that a total of 15 submissions have been received. A tender review panel under the URA Board will shortlist the qualified parties and invite them to submit a formal tender for the joint development. It is expected that the tender exercise will take place in the near future. 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 spaces, a residential care home for the elderly and conservation
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10 Mar 2009
Invitation for Expression of Interest - Lee Tung Street / McGregor Street Project in Wan Chai
The Urban Renewal Authority (URA) has decided to freshly invite interested parties to submit Expressions of Interest (EOIs) in the joint development of Lee Tung Street/McGregor Street project in Wan Chai beginning tomorrow (Wednesday). A spokesperson for the URA said: "In view of the recent changes in the market environment, we deem it appropriate to invite interested parties to submit EOIs afresh for the project since the last exercise was done quite a while ago." The URA last invited EOIs for the project on 14 August 2008 and 15 submissions were received when the invitation closed on 26 September 2008. 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 co
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25 Feb 2009
URA supports government measures to create job opportunities
The Chairman of the Urban Renewal Authority (URA), Mr Barry Cheung Chun-yuen, today (Wednesday) welcomed the announcement of a package of government measures to boost job opportunities by the Financial Secretary in his 2009-2010 Budget Speech at the Legislative Council. In particular, the URA fully supports the "Operation Building Bright" campaign to be jointly funded and implemented by the Government, the URA and the Hong Kong Housing Society (HKHS) so as to create more job opportunities for the construction industry in the shortest period of time possible. "As a principal facilitator of urban regeneration in Hong Kong, the URA shares the objectives of these special measures and will put in resources needed to encourage more old flats owners to take part in building rehabilitation work
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20 Jan 2009
Plan to preserve historical character of Wing Woo Grocery in place
The Urban Renewal Authority (URA) today (Tuesday) announced that a comprehensive plan is in place to preserve the character of the renowned Wing Woo Grocery which has been in business for over 80 years at the ground floor of 120 Wellington Street, Central. The store operator will close down his business this Friday. The Wing Woo Grocery is located at the Peel Street/Graham Street redevelopment project of the URA. The URA has extended an invitation to the store operator to continue his business in the shop until redevelopment takes place by paying the existing rent and at the 'Old Shop Street' to be set up in the new development. However, the operator declined the invitation because of his advanced age and decided to retire happily with the compensation offered by the URA. "We fully
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29 Dec 2008
Property acquisition for Kwun Tong Town Centre project commences
The Urban Renewal Authority (URA) today (Monday) issues letters to owners of all 1,657 legal property interests of the Kwun Tong Town Centre project on the purchase of their property interests. A spokesperson for the URA said: "Eligible owner-occupiers of domestic properties will be offered $5,937 per square foot of saleable floor area, which is based on the assessment of the unit rate of a notional 7-year-old flat as at 1 December 2008. The said rate has carefully been arrived at based on a valuation mechanism which is virtually transparent, open and fair. In view of the large number of property interests involved and the aspirations of the affected residents and the community, the URA has enhanced the valuation mechanism by appointing 11 independent valuation firms instead of the us
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16 Dec 2008
Property acquisition for Kwun Tong Town Centre project to start soon
The Urban Renewal Authority (URA) will issue purchase offers to owners of all 1,657 legal property interests of the Kwun Tong Town Centre project (Project K7) before the end of this month to acquire their property interests. The Land, Rehousing and Compensation Committee of the URA Board today (Tuesday) endorsed a unit rate of $5,937 per square foot of saleable floor area for a notional 7-year-old flat in respect of the project. Speaking to the media representatives this afternoon, the Chairman of the URA, Mr Barry Cheung, said: "The unit rate is assessed in accordance with the established mechanism of the URA which is open, fair and transparent. Because of the large number of property interests involved and taking into account the views of the affected residents and the community, th
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4 Dec 2008
URA to hold seminar on urban renewal of Asian experience
The Urban Renewal Authority (URA) will hold a full-day seminar engaging overseas and local academics and officials to exchange views on the models and challenges of urban renewal in some Asian cities on 15 December 2008. The seminar, entitled "Models and Challenges of Urban Renewal-Sharing of Asian Experience", aims to enhance public understanding of the various issues in urban renewal by drawing on the experience and actual results of other Asian cities, in order to better prepare for future initiatives in urban renewal in Hong Kong, said a spokesman of the URA. "It is an opportune time to take stock of our experience in urban renewal for the past 20 years and review the Urban Renewal Strategy. The seminar, serving as a useful platform for proactive dialogues on the way forward, is h