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Government to support URA: FS


The Government will offer resources to the Urban Renewal Authority if required, Financial Secretary Paul Chan said.

 

Mr Chan told the media today the authority?s project in Ma Tau Wai will be used for a pilot project for starter homes.

 

?If (the) Urban Renewal Authority is to be engaged in (the) development of subsidised flats for sale and if this is supported by the Government, I think resources support will follow if required.

 

?For that particular project, they are going to give about 40% discount, but even with this discount for that particular project I don't expect them to incur a lot of losses, because the project was acquired quite a number of years ago at a comparatively, at that time compared to now, very reasonable cost.?

 

He added the authority?s current financial condition is healthy.


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