The Urban Renewal Authority (URA) is a quasi-governmental, profit-making statutory body in Hong Kong responsible for accelerating urban redevelopment. The authority's predecessor, the Land Development Corporation (土地發展公司, or 土發 for short), was founded in 1988. The new Urban Renewal Authority was founded in 1999 with the aim of speeding up urban renewal. Difficulties reaching agreement on compensation packages for people affected by planned redevelopments delayed the actual commencement of the URA. The agency was finally established on 1 May 2001 and the LDC was dissolved the same day. More information...
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