Press Statement by URA on Pine Street/Anchor Street Redevelopment Project
The Urban Renewal Authority (URA) today (Tue) issues the
following statement in response to press inquiries:
The Pine Street/Anchor Street redevelopment project involves 167
property interests (of which 24 are ground floor shops) and 213
tenants (of which 30 are shop tenants). The URA initiated
property acquisitioning and tenants compensation/relocation
arrangements in March 2005. In May 2006, Government resumed
all properties that URA had failed to acquire, under the Lands
Resumption Ordinance. In June 2006, Government made offers of
compensation to the ex-owners concerned, such offers being based on
the prevailing market conditions on the date of reversion of these
property rights to Government. To date, only five ex-owners
and seven ex-tenants are still refusing to hand over their premises
occupied by them.
To enable the project to proceed in the public interest without
further delay, the URA has on behalf of Government resorted to the
judicial process to repossess the concerned premises whose property
rights have already reverted to Government. The URA has been
in constant touch with all the ex-owners/tenants affected in an
attempt to ascertain their needs and assist their relocation.
The URA also welcomes any requests from them for assistance in
their negotiations with Government.
As regards the claims by some ex-owners that the compensation
offered by the URA or Government does not adequately reflect market
conditions, there is no reason why these ex-owners cannot accept
provisionally the statutory compensation provided by Government in
the first instance, while continuing their negotiations with
Government. They may also apply to the Lands Tribunal for
adjudication as to the fair and equitable compensation
payable.
Currently, there is a proper mechanism to deal with compensation
issues in relation to URA's redevelopment projects.
Concerning suspicions allegedly harboured by some that illegal
means is deployed by URA staff to threaten residents or shop owners
into submission, the URA appeals for concrete evidence to be
produced. Upon production of such evidence, the URA will
spare no efforts in carrying out a thorough investigation and other
necessary follow up action.
(END)