Hong Kong’s Urban Renewal Authority ready to build subsidised flats, but needs land to move faster, chairman says

  • URA considering new approaches to meet target of building 18,000 flats in five years as Beijing pushes for elimination of subdivided homes
  • Having enough land will help remove hurdle of ‘seven-year price’ for compensating owners

Urban Renewal Authority chairman Chow Chung-kong spoke to the Post about his agency’s efforts to increase the number of flats it builds each year. Photo: Jonathan Wong

Hong Kong’s Urban Renewal Authority needs more land, not money, from the government to do a better job of boosting the city’s housing supply, according to chairman Chow Chung-kong.

Having the necessary land would free the statutory body to build homes and relocate residents without first having to pay hefty compensation to acquire buildings, he said in an interview with the Post.

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