Urban Renewal Authority

Overview Key strengths Key risks Almost certain likelihood of extraordinary support from the Hong Kong government. Net cash outflow over the next few years as redevelopment picks up. Ongoing support from the government through tax exemptions and land premium waivers. Property market downturn may weaken profitability. Strong balance sheet with net cash position. Lumpy cash flow and profitability due to project cycles. Urban Renewal Authority (URA) is the only statutory body in Hong Kong responsible for urban renewal, a key task for the government. The chief executive?s 2023 Policy Address stated that the government would speed up the redevelopment of aged buildings because of dilapidation concerns. The authority estimates the number of residential buildings aged 50 years or more will

...Almost certain likelihood of extraordinary support from the Hong Kong government is likely to stay. Urban Renewal Authority (URA) is the only statutory body in Hong Kong responsible for urban renewal, a key task for the government. The chief executive's 2023 Policy Address stated that the government would speed up the redevelopment of aged buildings because of dilapidation concerns. The authority estimates the number of residential buildings aged 50 years or more will increase to about 26,000 from 12,400 over the next 20 years. While URA has completed or is conducting redevelopment or rehabilitation of 8400 buildings, the increasing number of old buildings highlights its importance to the city....

Full Report