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Hong Kong URA returns to profit with HK$338 million operating surplus

The Urban Renewal Authority said it has used resources to meet operational targets after three straight years of losses, and it plans to accelerate preparations for an enhanced “Smart Tender” scheme.

Reported · Written up by our desk · Asia

Hong Kong’s Urban Renewal Authority (URA) reported an operating surplus of HK$338 million (US$43.3 million) for the 2025-26 financial year, marking a return to profit after three consecutive years of losses, the SCMP Economy reported.

The URA said the surplus will help fund ongoing urban renewal initiatives, after it earlier this year raised HK$8 billion by selling bonds to support capital expenditure and new projects.

Chairman Chow Chung-kong said the authority adopted “flexible strategies” amid a volatile external environment and property market fluctuations, and that it expects to accelerate preparations for an enhanced “Smart Tender” scheme designed to provide added support for property owners when hiring engineering consultants and contractors.

The URA said it was finalising specific measures and implementation details with the government, while SCMP Economy noted that no detailed financial figures were provided during the banquet marking the statutory body’s 25th anniversary.

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