Urban Renewal Authority

Overview Key strengths Key risks Expanding role in housing and urban planning policy underpins importance to the Hong Kong government. Ongoing projects will lead to financing needs by fiscal 2025, to be exacerbated by potential new initiatives. Strong liquidity and sustained net cash position. Lumpy cash flows and volatile profitability due to project cycles. Ongoing support from Hong Kong government will continue to lessen URA?s financial burden. Property market downturn may reduce surplus sharing and weaken profitability. The company plays an important role in assisting the Hong Kong Special Administrative Region's (HKSAR) government in alleviating the city's housing shortage. In addition to various ongoing initiatives such as Starter Homes and the redevelopment of sites under the Civil Servants' Co-operative Building

...Urban Renewal Authority's (URA) strengthening role in housing and urban renewal policy continues to underpin the rating. The company plays an important role in assisting the Hong Kong Special Administrative Region's (HKSAR) government in alleviating the city's housing shortage. In addition to various ongoing initiatives such as Starter Homes and the redevelopment of sites under the Civil Servants' Co-operative Building Society scheme (CBS), URA is leading an extensive study on Yau Ma Tei and Mong Kok district's renewal, known as YMDS. The study expands URA's focus from project-level redevelopment to district planning with a holistic perspective, while also promoting private sector participations in urban redevelopment by proposing new planning tools. YMDS was brought to government departments, legislators, and professional bodies for feedback in late 2021. The HKSAR government is supportive of this district planning approach advocated by URA, and has tasked the authority with additional...

Full Report