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Economy

Rent Relief Measures under COVID-19

In line with the extension of rent relief measures announced by the Government to combat the impact of COVID-19 and support small enterprises, the URA has extended the rent relief measures for its tenants to September 2021 and helped tide 870 residential and commercial tenants over the difficult time, involving over $120 million in total. Subject to the pandemic situation and its impact on the tenants in our projects, the URA will review the need for further extension of the relief measures, if necessary, to help sustain the tenants’ businesses.

 

Preserving Local Economic Activities

Conscientious efforts are made to ensure local businesses continue to thrive in the process of urban renewal. Similar to URA’s Prince Edward Road West Revitalisation Project, the 618 Shanghai Street which opened in 2019 showcases how the overall physical environment can be improved to cultivate a place where old meets new while espousing economic vibrancy for the local community.

In 2020/21, the Yue Man Lane, the retail space in part of the new shopping mall named Yue Man Square specially reserved for former stall operators in the Development Areas 4 and 5 of the Kwun Tong Town Centre Project, attracted 15 former operators to return. These relocated businesses cover a variety of goods and services, ranging from Chinese-style desserts, medicines, electrical appliances to furniture and interior design services, just to name a few. With relocation and business resumption assistance provided by the URA, these stall operators have also seized the opportunity to transform and expand their business to meet new market environment. On the ‘B1’ level of Yue Man Square, a brand-new Yue Man Hawker Bazaar was also opened in April 2021 housing a hundred licensed fixed-pitch hawkers formerly stationed at temporary hawker bazaars in the project. The Yue Man Lane and Yue Man Hawker Bazaar together have formed a new hub for retaining local characteristics and street culture of Kwun Tong while maintaining neighbourhood connections.

The URA continues to adopt tactical measures for the implementation of the Peel Street/Graham Street Project (H18) in order to keep the nearby century-old market intact and to enhance vibrancy. Following a series of promotional activities, Graham Market and the new market block at Site B of H18 have become an iconic spot for local residents to purchase a vast variety of their daily needs.

 

Stall OperatorCommunity Workshops

Facilitating Social Enterprises to Thrive

During 2020/21, the URA continued to provide premises of about 5,000 square metres at a basic or concessionary rent for non-governmental organisations (NGOs) and social enterprises (SEs), including units leased out for Community Housing Movement. At 618 Shanghai Street, a social enterprise named Dignity Kitchen has been operating with the mission of helping the disadvantaged and disabled to become selfreliant through employment and vocational training, a business beneficial to the society and complementary to the URA’s mandate to revitalise the community in old urban areas through urban renewal works.

Local communities, NGOs and creative talents can also rent activity space on a daily basis to organise workshops, performances, exhibitions and promotions at the URA’s community space at H6 CONET in Central, 7 Mallory Street in Wan Chai and 618 Shanghai Street in Mong Kok at a community rate.

 

Dignity Kitchen