Press Releases
Year 2025
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17 Sep 2025
Responses by URA to 2025 Policy Address
In response to the announcement made by the Chief Executive in the 2025 Policy Address today (17 September 2025) on adopting a new mindset in urban renewal by exploring the utilisation of newly developed land to take forward the redevelopment of the older urban districts, a spokesperson for the Urban Renewal Authority (URA) said that the URA welcomes these initiatives and will fully support their implementation. The spokesperson remarked that the Government has been supporting the URA in implementing urban renewal efforts, including the new planning tool for plot ratio transfer recommended by the District Study for Yau Ma Tei and Mong Kok, which was promulgated through the issuance of guidelines by the Town Planning Board allowing the transfer of unutilised plot ratio within the same di
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15 Sep 2025
"Backstreet Alliance – The Local’s Guide to Kowloon City" Kicks Off, Collaborative Effort to Promote Local Economy and Character
Jointly organised by the Hong Kong Small and Medium Enterprises Association (HKSME), the Urban Renewal Authority (URA), and CLP Power Hong Kong Limited (CLP Power), the “Backstreet Alliance – The Local’s Guide to Kowloon City” was officially launched today (15 September) at Kowloon City Plaza. The initiative brings together over 60 restaurants and shops from the Kowloon City district to provide a rich and immersive experience that combines heritage tours, cultural storytelling, iconic movie scenes, Augmented Reality (AR) technology interactions, low-carbon initiatives promotion, and merchant offers to both locals and tourists. It also aims at promoting the district’s economic and cultural development. The launch ceremony was officiated by Mr Algernon Yau, Secretary for Commerce and Ec
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10 Sep 2025
The Launch of the 59 Units of URA’s Kai Tak Development Sold out on First Day of Sale
The Urban Renewal Authority (URA) launched 59 units of its Kai Tak Development (the Project) for open market sale last month, which garnered an overwhelming market response. Prior to the sale, the URA received approximately 1,700 Registrations of Intent, representing an oversubscription of about 28 times. All units were sold out on the first day of sale (30 August 2025), and will be handed over to the owners in batches this December. Located in the Kai Tak Development Area (KTDA), the Project is the URA’s first self-developed residential project. The sold units, ranging from 442 to 675 square feet, primarily offered two and three bedrooms. Demand was strongest for the three-bedroom units, which were all sold before noon on the first day of sale. Statistics indicate that nearly 30
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5 Sep 2025
URA’s Ma Tau Wai Road / Lok Shan Road Development Project Authorised by the Secretary for Development
The Secretary for Development (SDEV) has authorised the Urban Renewal Authority (URA) to proceed with the Ma Tau Wai Road / Lok Shan Road Development Project (the Project*) in Kowloon City district. A Gazette notice of this development project under the Urban Renewal Authority Ordinance (URAO) was published today (5 September 2025). During the two-month publication period after the commencement of the Project on 9 August 2024, the URA received submissions of general comments and objections which were considered in accordance with the provisions of the URAO. The URA submitted the Project, an assessment on the likely effect of the implementation of the Project, the unwithdrawn objections to the Project and the URA’s deliberations on the objections to the SDEV for consideration on 7 Janu
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4 Sep 2025
URA Issues Acquisition Offers to Property Owners of Queen’s Road West / Kwai Heung Street Development Project
The Urban Renewal Authority (URA) today (4 September 2025) issued acquisition offers to property owners affected by Queen’s Road West / Kwai Heung Street Development Project (the Project*). Eligible owner-occupiers of domestic properties of the Project will be offered $18,674 per square foot of saleable area, which is the unit rate of a seven-year-old notional replacement flat situated in the same locality (Notional Unit Rate). In addition, eligible domestic owner-occupiers of the Project will be offered a “Flat-for-Flat” unit in the future development to be constructed on the Project site as an alternative to cash compensation. The Notional Unit Rate was determined in accordance with the URA’s existing acquisition policy which was first established in 2001. Seven independent consult
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25 Aug 2025
URA and HKBU Establish Strategic Collaboration Seeking to Promote Development of Northern Metropolis University Town
Following the signing of Memorandums of Understanding (MOU) with The Hong Kong University of Science and Technology in June, and with City University of Hong Kong on Tuesday, 19 August 2025, the Urban Renewal Authority (URA) today (25 August 2025) established a strategic collaboration with The Hong Kong Baptist University (HKBU) on the Kwun Tong Town Centre 2.0 project (KTTC 2.0, or the Project). In just over two months, the URA has formed cooperation frameworks with three local universities to optimise the spatial utilisation of KTTC 2.0, underscoring the recognition by Hong Kong's higher education sector of the Project’s development potential. It also highlights how the Project expands and elevates the benefits of urban renewal from the neighbourhood district level to the sphere of
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19 Aug 2025
URA and CityUHK Sign Memorandum of Understanding
The Urban Renewal Authority (URA) and City University of Hong Kong (CityUHK) signed a Memorandum of Understanding (MOU) today (19 August 2025), establishing a co-operative intent and framework for CityUHK to expand its off-campus space in the non-domestic portion of the URA’s Kwun Tong Town Centre 2.0 project (KTTC 2.0, or the Project) upon its completion. This MOU represents the second agreement of its kind executed with a local higher education institution, following the collaboration intent established with The Hong Kong University of Science and Technology in June of this year. The MOU was signed by Managing Director of URA, Ar Donald Choi, and Provost and Deputy President of CityUHK Professor Lee Chun-sing. Under the co-operative framework, CityUHK intends to take up certain non
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26 Jun 2025
URA Releases Tender Amounts Submitted for Shantung Street / Thistle Street Development Scheme
The Urban Renewal Authority (URA) on 23 May 2025 awarded the development contract for its Shantung Street / Thistle Street Development Scheme (YTM-012 Project) to Maxjet Company Limited, a wholly-owned subsidiary of China Overseas Land & Investment Limited, for a tender amount of HK$860.68 million. After the signing of the development agreement with the successful tenderer, the URA today (26 June 2025) published the tender amounts submitted by the conforming but unsuccessful tenderers, in descending order and on an anonymous basis, as follows: Tender Amount (HK$) 1 852,830,000 2 785,000,000 3 536,000,000 4 5
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6 Jun 2025
URA Welcomes Decision to Grant Two Sites for Urban Renewal Purpose
The Urban Renewal Authority (URA) today (6 June 2025), welcomes the Executive Council’s decision to approve the recommendation made by the Development Bureau to grant two sites, one in Bailey Street, Hung Hom and the other in Tseung Kwan O Area 137 (TKO Site), to the URA by private treaty at nominal land premium. A spokesman for the URA said, “The decision represents the Government’s strong support to the URA in enhancing its financial capability to maintain the sustainability of urban renewal by way of, among others, providing suitable land to the URA to increase its usable resources, an initiative in The Chief Executive’s 2023 Policy Address.” With a view to enhancing financial sustainability amidst adverse market condition, the URA has taken a number of measures to maintain a fina
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3 Jun 2025
URA and HKUST Sign Memorandum of Understanding
The Urban Renewal Authority (URA) and The Hong Kong University of Science and Technology (HKUST) signed a Memorandum of Understanding (MOU) today (3 June 2025), establishing a co-operative intent and framework for the HKUST to expand its off-campus education and research space in the non-domestic portion of the URA’s Kwun Tong Town Centre 2.0 project (KTTC 2.0, or the Project) upon its completion. The MOU was signed by Managing Director of URA, Ir Wai Chi-sing, and Vice-President for Development of HKUST, Ir John Kwong. Under the co-operative framework, HKUST intends to take up certain non-domestic portion of the Project, upon completion, either through purchase or other means, to support its development needs. The additional off-campus space will help achieve the development goals of