Urban Renewal Authority 2018-19 Annual Report

69 MANAGEMENT DISCUSSION AND ANALYSIS The problem of urban decay in Hong Kong remains daunting. According to a study conducted in 2017, about 10,000 of our buildings were over 50 years old and more than a third of those were in deteriorating or poor condition. By 2046, the number of building blocks over 50 years old would approach 28,000, with the possibility of a parallel increase in dilapidation if no action is taken. Moreover, the development potential of many of these high-density old buildings have already reached their limits without much room for plot ratio gains after redevelopment. To address the redevelopment dilemma and tackle the problem in urban decay, the URA takes the initiatives to carry out urban renewal in a more holistic and visionary approach including district-based planning and strategic studies.