Press Releases
Year 2023
-
3 Apr 2023
URA Issues Acquisition Offers to Property Owners of Kim Shin Lane/ Fuk Wa Street Development Project
The Urban Renewal Authority (URA) today (3 April 2023) issued acquisition offers to property owners affected by the Kim Shin Lane/ Fuk Wa Street Development Project (SSP-017) in Sham Shui Po. Eligible owner-occupiers of domestic properties of the SSP-017 project will be offered $16,022 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”). The above Notional Unit Rate, approved by the Land, Rehousing and Compensation Committee (LRCC) of the URA Board, was established in accordance with URA procedures. Seven independent consultancy firms selected by open ballot were appointed to assess the Notional Unit Rate for the acquisition offer. The assessments were conducted in March 2023 by co
-
31 Mar 2023
Two Building Rehabilitation Subsidy Schemes Launch their Third-Round Application Starting Tomorrow
The Operation Building Bright 2.0 Scheme (OBB 2.0) and the Fire Safety Improvement Works Subsidy Scheme (FSW Scheme) will commence their third-round application starting from tomorrow (1 April 2023) for a period of six months until 30 September 2023. Under the two Schemes, financial assistance will be provided to eligible owners for carrying out the necessary building inspections and repairs required by the Mandatory Building Inspection Scheme (MBIS), and conducting fire safety improvement works to comply with Fire Safety Directions issued under the Fire Safety (Buildings) Ordinance. The new round of application will further assist more building owners in carrying out proper maintenance and repair works to improve their living environment and the safety standard of their properties.
-
31 Mar 2023
URA Extends Rent Relief Period for Its Tenants
The Urban Renewal Authority (URA) announces today (31 March 2023) the extension of rent relief measures for its domestic and commercial tenants for another three months, from April 2023, to the end of June 2023. The measure is to provide continuous supports to business and domestic occupants during the current period of post-pandemic economic recovery. The URA has been implementing rent relief measures for its tenants since April 2020. The cumulative value of rent concessions provided thus far, together with the budget earmarked for the upcoming round of measures, will amount to around HK$259 million. This round of rent relief will cover around 1,100 domestic and commercial tenants. The measures include: 75% rental reduction for approximately 680 domestic and commercial ten
-
8 Feb 2023
URA Publishes Tender Amounts of Unsuccessful Submissions for Queen’s Road West / In Ku Lane Development Project
The Urban Renewal Authority (URA) today (8 February 2023) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the development of Queen’s Road West / In Ku Lane Development Project (the Project) in Sai Ying Pun. The URA commenced the tender exercise of the Project earlier and a total of seven tenders were received when the tender closed on 24 November 2022. After careful deliberation by the URA Board, the URA awarded the tender for the Project to Sky Oasis Enterprises Limited, a wholly-owned subsidiary of CK Asset Holdings Limited, on 15 December 2022. In addition to publishing the name of the successful tenderer and its holding company upon the award of the tender through a press release, the URA also disclosed at t
-
2 Feb 2023
Tender Result for URA’s Kwun Tong Town Centre Development Areas 4 & 5 Project
The Urban Renewal Authority (URA) announced today (2 February 2023) that the URA Board had decided to reject the tender submission received for the joint venture development of Development Areas 4 & 5 of the Kwun Tong Town Centre Project. On the closing date of tender submission on 11 January 2023, only one tender was received. The URA Board, having considered the recommendation provided by the Tender Review Panel, set up under the URA Board, after careful deliberation of the submission made by the tenderer, endorsed the recommendation to reject the tender. (ENDS)
-
11 Jan 2023
One Tender Received for URA’s Kwun Tong Town Centre Development Areas 4 & 5 Project
The Urban Renewal Authority (URA) received one tender for the development of the Kwun Tong Town Centre Development Areas 4 & 5 Project (the Project) when the invitation for submission of tender closed today (11 January 2023). A tender review panel (TRP) under the URA Board will consider the tender received and make recommendation to the URA Board for its decision. The URA earlier invited interested developers / consortia to submit Expressions of Interest for the Project. After careful consideration of the Expressions of Interest received, the TRP invited 19 developers / consortia to submit tenders. The Kwun Tong Town Centre Project is the URA’s largest single redevelopment project ever, with a phased redevelopment of five areas. The Project, being the last phase of the redevelop
-
6 Jan 2023
URA Launches the Third-round of Operation Building Bright 2.0 Scheme and Fire Safety Improvement Works Subsidy Scheme
The Urban Renewal Authority (URA) announces today (6 January 2023) that the third-round application for Operation Building Bright 2.0 Scheme (OBB 2.0) and the Fire Safety Improvement Works Subsidy Scheme (FSW Scheme) will commence on 1 April 2023. The Schemes aim to assist building owners in carrying out proper maintenance and repair works to improve building safety and the environment. Deterioration of building conditions is a common phenomenon faced by many aged buildings in Hong Kong. To tackle the problem, the Government launched the OBB 2.0 and the FWS Scheme and committed $11.5 billion in 2017 and 2018 to assist building owners in need in carrying out the building inspection and repairs required under the Mandatory Building Inspection Scheme (MBIS), as well as necessary fire ser
-
20 Dec 2022
URA Further Extends Rent Relief Period for Its Tenants
In view of the ongoing impact brought by COVID-19 pandemic to the economy, the Urban Renewal Authority (URA) announces today (20 December 2022) to further extend the rent relief for its domestic and commercial tenants in its properties for another three months, from January 2023 until the end of March 2023, in a bid to assist the URA’s tenants in the face of current economic challenges amid the pandemic to sustain their businesses. The URA’s rent relief measures for its tenants have been in place since April 2020. The cumulative amount of rent concession provided earlier together with the budget earmarked for the upcoming round of measures will reach around HK$243 million. The new round of rent relief will cover around 1,300 domestic and commercial tenants. The measures include:
-
15 Dec 2022
Tender Award for Development of URA’s Queen’s Road West / In Ku Lane Development Project
The Urban Renewal Authority (URA) announced today (15 December 2022) that the contract for the development of the Queen’s Road West / In Ku Lane Development Project (the Project) in Sai Ying Pun has been awarded to Sky Oasis Enterprises Limited, a wholly-owned subsidiary of CK Asset Holdings Limited, with a tender amount at HK$1,161 million. The URA earlier invited 32 developers to submit tenders for the Project following an expression of interest exercise. The URA received a total of seven tenders from these 32 developers when the submission of tender closed on 24 November 2022. After careful deliberation, the URA Board considered that the tender offer made by Sky Oasis Enterprises Limited has met the tender requirements of the Project and thus decided to award the development cont
-
7 Dec 2022
URA Publishes Tender Amounts of Unsuccessful Submissions for Wing Kwong Street / Sung On Street Development Project
The Urban Renewal Authority (URA) today (7 December 2022) published on an anonymous basis the tender amounts offered by the unsuccessful but conforming tenderers in the tender for the development of Wing Kwong Street / Sung On Street Development Project (the Project) in To Kwa Wan. The URA commenced the tender exercise of the Project earlier and a total of seven tenders were received when the tender closed on 6 October 2022. After careful deliberation by the URA Board, the URA awarded the tender for the Project to a consortium, Fortune Hope Limited, consisting of Sino Land Company Limited and China Merchants Land Limited, on 27 October 2022. In addition to publishing the name of the successful consortium and its holding companies upon the award of the tender through a press release, t