URA expected 5 years expenditure 35 billion denied “flooding”

the URA’s net asset value has hit a new high. Chief Executive Wei Chih-cheng means that the bureau has a working capital of about 17 billion yuan. However, the total expenditure in the next five years will reach 35 billion yuan. However, Prices fell and lost money, denying the existence of “flooding”.

Wei Zhicheng: 3 projects acquired nearly 10 billion

Earlier, the URA announced that as of the end of March 2017, its net asset value reached 32.6 billion yuan. URA’s chief executive Wei Chih-cheng said in his blog that the assets of the council are divided into real estate and liquidity. Most of the former are under acquisition The remaining $ 17 billion of property in the old buildings is working capital. However, it is estimated that the council will spend a total of $ 35 billion in expenses in 2017 and from 18 to 2021 and in 2003 alone. Three redevelopment projects such as Bailey Street in To Kwa Wan, Spending nearly 100 billion yuan, accounting for 60% of the current cash flow.

Wei Zhicheng explained that the URA projects recorded surplus in recent years and the property prices in recent years have continued to rise. For example, Sai Ying Pun, Sheung Shui Wan, Tai Kok Tsui Hai Tao Wan acquired in 2002 and 2003 at an acquisition price of $ 3,000 per sq ft. , Denied that there are profit-making situation. In recent years, the government has focused on environmental protection. Secretary for Development Wong Wai-lun said that the new southwest office building at Tsing Yi, designed by the Architectural Services Department, won the Merit Award of the Institute of Architects for Community Buildings. The greening ratio of the project amounted to 30% and various green materials were also used.