URA

A study conducted in 2016 revealed that about 9,700 building blocks in Hong Kong were more than 50 years old, with about 3,500 building blocks being in either deteriorating or poor condition. By 2046, the number of building blocks over 50 years old will approach 28,000, with the possibility of a parallel increase in dilapidation. Many of these ageing buildings have already used up all or the bulk of their development potential with little or no room for plot-ratio gains, hence they are not attractive to private developers for redevelopment. To cap it all, redevelopment projects will confront not only development risks but also potential resistance from occupiers and concern groups which can lengthen the project programme.