Press Releases
Year 2004
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14 Dec 2004
URA Response Statement to Announcement by HKMC for Rehabilitated Buildings Loan Mortgage
In response to media enquiries, the Urban Renewal Authority (URA) today (Tue) issued the following statement: The URA welcomes a decision by the Hong Kong Mortgage Corporation (HKMC) to extend its Mortgage Insurance Programme to cover buildings rehabilitated under the two rehabilitation schemes of the URA. This provides a further incentive for owners of old buildings to undertake voluntary rehabilitation work to improve and upgrade their living environment and help alleviate the problem of urban decay. A URA spokesman said this was another positive step in an on-going concerted community effort by the building owners, the URA, the financial community professional organisations and property agencies to rehabilitate not only the buildings but also the transaction market for them. Earlier,
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9 Dec 2004
Chinese Estates Holdings wins URA's Reclamation Street Project
The Urban Renewal Authority (URA) today (Thursday) announced that a wholly-owned subsidiary of Chinese Estates Holdings Limited, Silver Step Limited, has won the joint development contract for its Reclamation Street project in Mong Kok in a public tender exercise. The project site covers an area of about 5,760 square feet and is expected to deliver a gross floor area of about 51,800 square feet for residential and commercial purposes upon completion. Chinese Estates Holdings Limited is one of the seven property developers who tendered for the joint venture project. Based on the recommendation of a tender review panel appointed by the URA Board, members of the Board agreed that the offer made by Chinese Estates Holdings Limited has met all the tender requirements and, at the same time,
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26 Nov 2004
URA tender closes for Reclamation Street project
Attention News Editors: In response to media enquiries on the tender submissions for the joint development of the Reclamation Street project in Mong Kok, the Urban Renewal Authority (URA) today (Friday) issued the following statement: A total of seven tender offers have been received for the residential/commercial development in Reclamation Street, Mong Kok. A tender review panel under the URA Board will consider the tenders and make recommendation to the Board for a decision in due course. Among the developers who earlier took part in an expression of interest exercise for the project, 21 were invited to place a tender. The project site covers an area of about 5,760 square feet and is expected to deliver a gross floor area of about 51,800 square feet for residential and commerc
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12 Nov 2004
Invitation to Tender for Reclamation Street Project
The Urban Renewal Authority (URA) today (Friday) invited a total of 21 property developers to tender for the joint development of the Reclamation Street project in Mong Kok. The project site covers an area of about 5,760 square feet and is expected to deliver a gross floor area of about 51,800 square feet for residential and commercial purposes upon completion. Following the expression of interest exercise which closed on 8 November, a tender review panel under the URA Board decided to invite 21 interested parties for tender, after taking into consideration their experience and financial strength to undertake the development in accordance with the requirements and criteria set by the Authority. All tender submissions should reach the URA Headquarters at 10/F Low Block, Grand Millenn
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8 Nov 2004
Expression of Interest for URA's Reclamation Street Project
In response to media enquiries on the result of the expression of interest exercise for the Reclamation Street joint development project in Mong Kok, the Urban Renewal Authority (URA) today (Monday) issued the following statement: A total of 23 submissions have been received expressing an interest in the joint development of the Reclamation Street project site. A tender review panel under the URA Board will shortlist the qualified parties and invite them to submit a formal tender for the development. It is expected that the tender exercise will take place in the near future. The project site covers an area of about 5,760 square feet and is expected to deliver a gross floor area of about 51,800 square feet for residential and commercial purposes upon completion.
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1 Nov 2004
Invitation for Expression of Interest for Reclamation Street Project
The Urban Renewal Authority (URA) tomorrow (Tuesday) will invite estate developers to provide an expression of interest (EOI) for the joint development of the Reclamation Street redevelopment project in Mong Kok. The project site covers an area of about 5,760 square feet and is expected to deliver a gross floor area of about 51,800 square feet for residential and commercial purposes upon completion. Parties interested in the project are requested to indicate their professional competence and financial capability to undertake the development in accordance with the requirements and criteria set by the Authority. Submissions should be returned to the URA Headquarters at 10/F Low Block, Grand Millennium Plaza, 181 Queen's Road Central, by 5 pm on 8 November, 2004. A tender review pane
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20 Oct 2004
URA makes good progress in Wan Chai project
The Urban Renewal Authority today (Wednesday) reports that it has acquired over 74 percent of all property interests at the Lee Tung Street project which is the largest of its redevelopment projects so far. This percentage has been achieved in a nine-month period since acquisition offers were made in January this year and the success rate is similar to other large projects launched by the Authority in the past two and a half years. The Authority normally sets a 24-month time-frame to complete the land assembly process. A URA spokesman said: "We are gratified by the understanding and co-operation of the property owners and if this continues, we certainly hope to be able to meet the 24-month target." Based on the valuation of a notional seven-year-old replacement flat, the Authority
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20 Oct 2004
Better Mortgage Loan Terms for Rehabilitated Buildings
Six more banks have joined a scheme initiated by the Urban Renewal Authority (URA) to provide better mortgage services to owners of rehabilitated residential old buildings, bringing the participating banks to a total of 13. The mortgage loan scheme for rehabilitated building, which aims at improving the liquidity potential of aged properties in the old districts, is a new move by the URA in its continuing drive to encourage owners of old buildings to rehabilitate their properties. A spokesman of the URA announced today (Wednesday) that six more banks, namely Bank of China, Bank of Communications, CITIC Ka Wah Bank, Dah Sing Bank, Hang Seng Bank and MEVAS Bank have decided to join the scheme. Seven banks that have already joined the scheme are the Bank of East Asia, HSBC, Liu Chong Hing
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28 Sep 2004
Happy Mid Autumn Festival for elderly residents in Central & Western
Happiness and satisfaction are written on the smiling faces of some 40 elderly people in Central & Western District when they are offered packs of mooncakes and fruit for the upcoming Mid Autumn Festival. Sponsored by the Urban Renewal Authority (URA), the event is organised by the Staff Club of the URA with the assistance of the Urban Renewal Social Service Team of the St James' Settlement. About 20 URA staff and their family members took part in the courtesy visit last Saturday afternoon, bringing festive gifts to the elderly people living in Wing Lee Street/Staunton Street project area of the Authority.
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20 Sep 2004
Sun Hung Kai Properties wins URA's Po On Road / Shun Ning Road project
The Urban Renewal Authority (URA) today (Monday) announced that a wholly owned subsidiary of Sun Hung Kai Properties Limited, SHKP e-Home Limited, has won the joint development contract for its Po On Road / Shun Ning Road project in Sham Shui Po in a public tender exercise. The Po On Road / Shun Ning Road project site covers an area of about 15,000 square feet and is expected to deliver a gross floor area of about 135,000 square feet for residential and commercial purposes upon completion. Open space of about 2,700 square feet in area will be provided for the enjoyment of the local community. Sun Hung Kai Properties is one of the 13 property developers who tendered for the joint venture project. Based on the recommendations of a tender review panel appointed by the URA Board, members