Urban Renewal Authority 2018-19 Annual Report

157 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 14. Properties held for sale The Group’s properties held for sale are located in Hong Kong and their carrying amounts are analysed as follows: 2019 2018 $’000 $’000 Long leases 7,196 7,196 Medium-term leases 771,510 845,006 778,706 852,202 15. Balances with joint development projects 2019 2018 $’000 $’000 Amounts due from joint development projects 62,168 67,789 Amounts due to joint development projects (257,442) (436,973) (195,274) (369,184) All amounts due from/(to) joint development projects are expected to be recovered/settled within one year. The Group have the following active joint development projects as at 31 March 2019. Project Name/Location Land use Total gross floor area (m 2 ) Actual completion date (calendar year) Expected completion date (calendar year) The Zenith/One Wanchai (Wan Chai) Commercial/Residential 62,310 2006 (Site A & B) 2013 (Site C) – * Vision City/Citywalk (Tsuen Wan) Commercial/Residential 137,885 2007 – * The Dynasty/Citywalk 2 (Tsuen Wan) Commercial/Residential 44,404 2008 –