The statutory body in charge of urban regeneration in the world’s most expensive property market is under financial strain. Photo: Martin Chan

Hong Kong’s Urban Renewal Authority, which tackles housing decay in areas such as Yau Ma Tei and Mong Kok, sees dramatic fall in surplus, raising fears over its financial future

  • Authority’s surplus drops 80 per cent in a year as pressure rises to buy expensive old buildings and transform them into cheap, quality housing
  • The semi-public body considers pricey option of moving residents out of densely populated areas in Kowloon to improve living conditions
Topic |   Urban planning

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The statutory body in charge of urban regeneration in the world’s most expensive property market is under financial strain. Photo: Martin Chan
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