Press Releases
Year 2025
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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
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30 May 2025
“Urban Renewal Design Ideas Competition – The District Study for Yau Ma Tei and Mong Kok” Jointly Organised by URA and HKIA is Open for Registration
The Urban Renewal Authority (URA) and the Hong Kong Institute of Architects (HKIA) jointly organised the “Urban Renewal Design Ideas Competition – The District Study for Yau Ma Tei and Mong Kok”, which is open for registration from today (30 May 2025). The deadline for registration is 15 July 2025. The competition builds on the findings of the District Study for Yau Ma Tei and Mong Kok (the Study), conducted by the URA between 2017 and 2021. The Study aims to develop strategies to transform the area into a liveable, sustainable, diverse and vibrant metropolitan hub. Participants are encouraged to leverage the new planning tools and insights as recommended by the Study to create design that align with this vision. The key objective of the competition is to make urban planning and r
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29 May 2025
URA Welcomes Appointment of Donald Choi Wun-hing as Managing Director
The Urban Renewal Authority (URA) today (29 May 2025) welcomes the Government's appointment of Mr Donald Choi Wun-hing as Managing Director of the URA for a term of three years with effect from 15 June 2025. The Chairman of the URA, Mr Chow Chung-kong, said, "Mr Choi is a professional architect and business executive with over 40 years of experience in the field of architecture and property development. His achievements over the years are highly regarded. Mr Choi has also been active in community services, holding multiple roles in professional bodies and NGOs in the areas of architecture, innovation and the community. The URA is a statutory body tasked with improving Hong Kong’s living conditions and built environment by regenerating old urban areas. I am confident that Mr Choi w
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23 May 2025
Tender Award – URA’s Shantung Street / Thistle Street Development Scheme
The Urban Renewal Authority (URA) announced today (23 May 2025) that the contract for the development of the Shantung Street / Thistle Street Development Scheme (YTM-012 Project) in Kowloon has been awarded to Maxjet Company Limited, a wholly-owned subsidiary of China Overseas Land & Investment Limited, for a tender amount of HK$860.68 million. The URA earlier invited developers to submit tenders for the development of YTM-012 Project. A total of six tenders were received upon the expiry of the deadline for submission on 13 May 2025. After careful deliberation of the tender proposals received, the tender review panel (TRP) under the URA Board recommended awarding the development contract to Maxjet Company Limited. The URA Board, having considered the recommendation provided by the TR
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13 May 2025
Six Tender Submissions Received for the URA’s Shantung Street / Thistle Street Development Scheme
The Urban Renewal Authority (URA) received a total of six tender submissions for the development of the Shantung Street / Thistle Street Development Scheme (YTM-012 Project) in Kowloon upon the expiry of the deadline for submission at 12 noon today (13 May 2025). A tender review panel under the URA Board will carefully examine the submissions received and recommend to the URA Board to make the decision regarding the award of the development contract of YTM-012 Project. (ENDS)