Urban renewal projects involve the regeneration and retrofitting of urban areas, which presents significant cost control challenges due to their scale, complexity and evolving requirements. This research proposes a full process cost control framework enabled by a digital design building information modeling (BIM) platform tailored for urban renewal projects. The platform integrates architectural design, structure, MEP, cost estimation, and 4D construction simulation, allowing continuous cost tracking and forecasting throughout the project lifecycle. The digital platform approach provides enhanced visibility and analytics into the cost profile across design, procurement, construction and operation, overcoming limitations of traditional cost control methods. Further work involves incorporating additional functionality like artificial intelligence, virtual reality and Internet of Things connectivity to the platform to enable data-driven cost management.