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Written by: Wang Jieen and Zhang Jiamin
2021-06-16 18:20
Last update date: 2021-06-16 18:20
The URA submitted a document to the Legislative Council today (16th). The net asset value of the URA for 2020/21 is 47.24 billion yuan, of which 10 billion yuan will be invested by the government, and the cumulative surplus will be 37.24 billion yuan.
The URA has a surplus of 150 million yuan in 2020/21, which is 30 million yuan more than the 120 million yuan in the previous fiscal year.
The URA stated that it has launched two new preliminary project feasibility studies covering Sai Wan Ho and Wong Tai Sin, which means that there is a high possibility that old buildings in these areas will be demolished and rebuilt in the future.
The 2020/21 surplus is about 150 million yuan
The URA's surplus in 2020/21 is about 150 million yuan, slightly more than 30 million yuan from the 120 million yuan in the previous year.
The surplus mainly comes from the surplus of a bidding project, the surplus of a joint venture project, the surplus of the sale of self-developed projects, and the reversal of loss provisions due to changes in the development plans and estimated project costs of multiple projects.
The URA’s cumulative surplus was 37.24 billion yuan, a slight increase from the 37.09 billion yuan in 2019/20. The URA stated that the total land premium involved in 45 projects was not taken into account if the government exempted the bureau’s approved land for 45 projects, as of this year At the end of March, the URA’s accumulated surplus will be reduced by 19.7 billion yuan.
Cash outlays of 66 billion yuan in the next 5 years
The URA predicts that the cash expenditure in the next five years will be 66 billion yuan, excluding operating costs. The preliminary payments and rental income from the cooperative development partners will bring cash flow to the URA, but the actual amount is It will depend on market performance.
The URA estimated cash expenditure of 60 billion yuan in the next five years last year.
According to URA information, the Peel Street/Graham Street Development Project (H18) Site B completed in 2020/21, namely the property "My Central" jointly developed by Cheung Kong and URA, will be deducted from the cost and exempted. The net surplus after land price is about 1.3 billion yuan.
Looking at the information, when the real estate went on sale in 2017, the admission fee for the first batch of units required 17 million yuan.
The URA stated that in March and April this year, two new preliminary project feasibility studies were launched, covering Sai Wan Ho and Wong Tai Sin respectively, which means that there is a high possibility that old buildings in these two areas will be included in the demolition and redevelopment plan in the future.
The URA also pointed out that it had introduced three preliminary project feasibility studies in the business programme earlier, covering two Kowloon City operation areas and one Sham Shui Po operation area. Some buildings have been included in the announced redevelopment plan.
The URA’s resettlement building at 466 Des Voeux Road West started in March this year, and the concept of "co-living" will be introduced. The renovation project is expected to be completed in the third quarter of this year.
Below My Central is the Graham Market.
(Profile picture)
Planning and study of the Yauwang area will start public participation
As for the second-level historical building, 7 Maoluo Street, Wan Chai, formerly known as the "Animation Base", the URA stated that 60 events will be held in 2020/21 and a consultancy study was conducted in February this year.
As for the statutory monument of Westport City, the URA is now discussing with the government to continue to lease Westport City after the existing land lease expires in February 2022.
The URA will conduct structural and building surveys and determine the necessary improvement and repair works to maintain the building.
7 Mallory Street, Wan Chai is 10 pre-war buildings rated as Grade II historical buildings.
(Profile picture / Photo by Liang Pengwei)
In the 2019 policy address, the URA proposed to invite the URA to provide consultancy services to non-governmental organizations interested in "single site, multiple use" to rebuild community facilities. URA stated that as of the end of last month, it had received 26 enquiries and 2 of them had submitted letters of intent.
In the Yau Mong District planning study that began in 2017, the URA stated that all the documents have been completed, including the formulation of development concept blueprints for different development densities. Public participation will be launched in the short term, including consultation with relevant professional societies and regional organizations.
The URA has also begun to study detailed implementation plans for early projects and testing the proposed planning tools.
The URA expects expenditures to reach 100 billion in the next five years. Three years later, it may meet resistance in financing the reconstruction of civil service cooperatives.
The URA launched two more first-placed car-boards to rebuild Tai Hang Sai Village and provide 2000 units for sale in 2026
The URA’s Oak Street project pilots "pre-tendering", and the estimated expenditure for the next five years exceeds 60 billion
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