Hong Kong’s urban renewal chief rejects calls to help Housing Authority develop public flats

Wai Chi-sing, managing director of Urban Renewal Authority, says it is financially ‘unfeasible’ for profit-driven statutory body to develop public housing

Urban Renewal Authority has different function from public housing suppliers, Wai adds, noting it would be a ‘lose-lose’ situation for both parties

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Wai Chi-sing, managing director of the Urban Renewal Authority (right). Photo: Edward Wong

Published: 4:47pm, 31 Jul 2022Updated: 5:19pm, 31 Jul 2022

Hong Kong’s urban renewal chief has rejected calls to join the Housing Authority in building public flats, arguing the move would be financially unfeasible and create a “lose-lose” situation for both parties.

Wai Chi-sing, managing director of the Urban Renewal Authority (URA), on Sunday ruled out the possibility of it taking part in developing public housing, responding to calls for the body to help with the city’s shortage of suitable living spaces.

Writing in a blog post on Sunday, Wai explained his response to similar suggestions by lawmakers at the Legislative Council’s development panel on July 12.

“For the URA to develop public housing, financially this is unfeasible,” he said.

The authority is a profit-driven statutory body that relies on income from tendered projects to fund the further acquisition of old buildings as well as construction costs.

“At present, there is no mechanism for the Housing Authority to purchase from the URA its demolished dilapidated buildings and formed land,” Wai said.

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