URA tides over difficult times with the people of Hong Kong
In response to the Government’s latest announcement of the package of measures to support individuals and businesses affected by COVID-19, the Urban Renewal Authority (URA) announces today (9 April) that its Chairman, Managing Director and the two Executive Directors will voluntarily reduce their fee/salaries by 10% for a period of one year, starting April 2020.
To assist its tenants during the current economic difficulties, the URA is working on enhancing the rent relief measures, currently in place for its domestic and commercial tenants in its solely-owned properties. These enhancements include extending the rent relief period originally end in the month of May to end of September, as well as increasing the magnitude of the percentage of relief. Meanwhile, the URA will also discuss with its joint development partners on rent relief measures that could be applied to commercial tenants in the joint development projects.