Hong Kong Urban Renewal Authority reports HK$338 million surplus

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The Hong Kong Urban Renewal Authority (URA) reported an operating surplus of HK$338 million for the 2025-26 financial year, marking a return to profitability after three consecutive years of losses. Chairman Chow Chung-kong announced the result during the authority's 25th-anniversary banquet, noting that the agency utilized flexible strategies to navigate property market fluctuations and a volatile external environment. Earlier in the year, the URA raised HK$8 billion through bond sales to support its capital expenditure and project pipeline.

Consequences

The URA will move to prioritize the implementation of an enhanced 'Smart Tender' scheme, which aims to provide property owners with greater support when hiring contractors and engineering consultants. The authority is currently finalizing the specific measures and details of this program in coordination with the government.

Sources

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