Responses by URA to Hong Kong's First “Five-Year Plan” and 2026 Policy Address
The Urban Renewal Authority (URA) welcomes the policy directions announced by the Chief Executive today (16 September 2026) in both “The First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026–2030)” (the “Five-Year Plan”) and the 2026 Policy Address. The URA will fully co-operate with the established directions, which aim to drive urban renewal with a new mindset and reform building rehabilitation strategies by committing at least around $40 billion over the next five years to take the initiatives forward.
Managing Director of the URA, Ar Donald Choi, expressed his sincere gratitude to the Government for its unwavering support of the URA’s urban renewal work through various measures. He pointed out that the incorporation of old district regeneration into the inaugural “Five-Year Plan” fully reflects the importance placed by the Government on the “double ageing” problem of both older urban areas and buildings. The integration of old district regeneration, environmental enhancement, and regional development outlined in the “Five-Year Plan” avoids a “demolish and rebuild” approach centred on individual projects. This strategic direction, which aims to reshape urban spaces, enhance community functions, improve transport connectivity, and enhance greening and public spaces (including waterfront areas), is entirely aligned with the URA's long-standing “district-based, planning-led” approach, whilst providing a clear path forward for future urban renewal.
“The Government’s forward-looking approach of utilising land resources in New Development Areas (NDAs), including the Northern Metropolis, to support redevelopment in older districts will not only mitigate the infrastructure capacity bottlenecks that make redevelopment difficult, but also enable the URA to explore a brand-new ‘Flat-for-Flat’ arrangement. This arrangement can significantly enhance the sustainability of the URA’s urban renewal initiatives,” said Donald Choi.
He is also pleased to see the Government implement innovative policies including the “Bonus Plot Ratio Pilot Scheme" and the cross-district transfer of plot ratio to incentivise active market participation in the regeneration of old districts. The URA is currently conducting a policy review with the Development Bureau on the URA’s operational and financial models and recommendations are expected to be put forth, followed by a public consultation in 2027. The scope of this review includes the “Seven-year Rule” compensation arrangement, which aims to remove barriers and restrictions to facilitate URA redevelopment projects.
Regarding the reform of the building rehabilitation strategy, the URA fully co-operates with the Government to push forward a series of enhanced regulatory and enforcement measures. It is committed to combating corruption and bid-rigging in building maintenance works with various stakeholders while enhancing technical support to owners. To this end, the URA has been actively preparing with the Government the comprehensive and targeted new support services for Owners’ Corporations and property owners undertaking large-scale building maintenance as early as possible. Applications for admission to the new “pre-qualified lists” of consultants and contractors will commence within September, and the lists are expected to be published progressively by the end of this year.
The URA also welcomes the Government’s promotion of preventive maintenance as its policy direction. By conducting building maintenance in a timely manner, the lifespan of buildings can be extended, alleviating the pressure of redevelopment. The URA will continue to carry out education and promotion work across buildings of varying ages, encouraging owners to participate in the Preventive Maintenance Subsidy Scheme so as to formulate long-term maintenance plans and establish financial reserves early.
Looking ahead, the URA will continue to collaborate closely with the Government, the industry and the wider community, adopting a flexible, innovative mindset as well as a pragmatic approach to implement the measures under the “Five-Year Plan” and the 2026 Policy Address, thereby improving the living environment of residents in older districts and building a more liveable city for all.
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