Urban Renewal Authority

During the government's policy address in November 2020, URA was entrusted with additional tasks such as redevelopment of Tai Hang Sai Estate (THSE) as well as providing more starter homes. This followed the success of its pilot project, eResidence. Besides, URA has also made good progress on the redevelopment of projects under the Civil Servants' Co-operative Building Society (CBS) scheme and the large-scale Yau Mong District Study (YMDS). URA's cash resources dropped to HK$11 billion in fiscal 2020, following two years of negative cash flows. We forecast cash flow will turn positive in fiscal 2022 as five projects are tendered. However, net outflows are likely to fund various projects for the rest of the years to fiscal 2025. We have

...Urban Renewal Authority (URA)'s policy importance is strengthening with an increased role in housing initiatives. We believe the authority's role in the Hong Kong Special Administrative Region (HKSAR; ##+/Stable/A-1+)'s housing policy is underpinned by it undertaking of an increasing number of initiatives. The importance of its role to the government supports our view of an extremely high likelihood of extraordinary support. During the government's policy address in November 2020, URA was entrusted with additional tasks such as redevelopment of Tai Hang Sai Estate (THSE) as well as providing more starter homes. This followed the success of its pilot project, eResidence. Besides, URA has also made good progress on the redevelopment of projects under the Civil Servants' Co-operative Building Society (CBS) scheme and the large-scale Yau Mong District Study (YMDS). URA's strong balance sheet and surplus sharing can absorb upcoming negative cash flows and limit financing need. In our forecast,...

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