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Saturday, Dec 03, 2022

Hong Kong’s URA to spend HK$120 billion on 22,000 flats over next 5 years

Hong Kong’s URA to spend HK$120 billion on 22,000 flats over next 5 years

URA managing director says authority needs to launch redevelopment projects quickly, otherwise it could suffer negative cash flow of more than HK$15 billion.
The Urban Renewal Authority (URA) intends to supply 22,000 flats in the coming five years under a new holistic approach that would see the statutory body also help build public infrastructure to improve Hong Kong’s living environment.

URA managing director Wai Chi-sing revealed in a blog post on Sunday that its entire slate of projects would cost about HK$120 billion and cover more than 200,000 square metres.
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