URA acquires 66pc of Kwun Tong properties

The Urban Renewal Authority had acquired 1,088 property interests, or about 66 per cent, for its Kwun Tong Town Centre project when the 90-day offer period ended yesterday. The authority's director of acquisitions and clearance, Joseph Lee King-chi, said the acquisition rate was encouraging and the authority would continue negotiations on a case-by-case basis.