URA ready to build subsidised flats, but needs land to move faster, chairman says
South China Morning Post, 06-Sep-2021
2 words, C.K.: "mission creep". URA's mission is in its name: Urban Renewal, not developing vacant land. Private sector can do that. Indeed, since 1999 with the Land (Compulsory Sale for Redevelopment) Ordinance, the private sector can do urban renewal too, and the URA has outlived its utility. Shut it down and let the market determine how much to pay to consolidate old buildings, buy out the minorities and redevelop.