Responsible for urban reconstruction, avoiding further deterioration of the urban environment, and improving the living environment of residents in the old area. LDC is responsible for its own profits and losses. The biggest difference between the company and other general commercial institutions/companies/real estate developers is that the company can ask the government to use the Land Resumption Ordinance to recover land for urban reconstruction when purchasing land.
At first, the early operation of the Land Development Corporation was quite successful. Unfortunately, the progress of land acquisition by the Land Development Company for urban reconstruction is very slow because it takes a long time to discuss compensation with the owners/owners. In addition, the Land Development Company does not have enough resources to resettle the affected residential tenants, and no institution is willing to resettle the affected tenants/owners for the Land Development Company. What's more, The laws at that time required the LDC to take "all reasonable steps to acquire the property" and to propose "fair and reasonable" terms to the owners, so that the land acquisition process took a long time. All these factors have hindered the LDC from carrying out new urban reconstruction projects.
During the period from the establishment of the LDC to its dissolution, there were only a few projects, such as the Chappelle Street project (today's The Center ）The Heyongle Street project (today's New Era Square) was the most successful, while other projects, such as the urban reconstruction project of Hanoi Road in Tsim Sha Tsui and the urban reconstruction project of 6th Street in Mongkok, were not as successful as expected (finally, only the urban reconstruction project of Hanoi Road in Tsim Sha Tsui could be successfully acquired and reconstructed). In addition, the local government launched another 25 urban reconstruction projects in 1998, but the progress was still slow due to financial problems, It was eventually replaced by the Urban Renewal Authority. 
