77 applications received for 4th round of demand-led redevelopment project (pilot scheme)

The Urban Renewal Authority (URA) announced that 77 applications have been received for the fourth round of the demand-led redevelopment project (pilot scheme) by 5 pm today (Wednesday).

A spokesman for the URA said: "The demand-led redevelopment project (pilot scheme) has been well received among property owners since its launch in 2011. Drawing on the experience from the last three rounds, the URA has made revisions to the pilot scheme in order to enhance the success rate of the scheme and the planning gain to the community. While the level of interest in the fourth around of application matches our expectation, the URA hopes to continue to improve the living environment of people living in old districts through a diverse approach."

All applications will go through a stringent screening and scoring process. Consideration will be given to the building condition, financial factor and other relevant factors such as project implementability and site opportunities.  The URA will consider and select suitable projects for inclusion in the 2016/17 Annual Business Plan for the approval of the Financial Secretary.

(ENDS)