Hong Kong’s cash-strapped Urban Renewal Authority (URA) may review its policy to reduce compensation to residents affected by redevelopments, its new chief has said, as the organisation faces financial challenges.
URA managing director Donald Choi Wun-hing said on Friday in his first meeting with the media that it was an appropriate time to review the current compensation package.
Residential flat owners receive the cash equivalent of the market price of a comparable seven-year-old flat in the…
Comments