Page 15 - URA Annual Report 2020-21

Over the past five years, thanks to the concerted efforts and dedication of the URA team, we have made considerable strides in progressing our ‘5Rs’ business strategies – namely redevelopment, rehabilitation, preservation, revitalisation and retrofitting in old districts. As regards redevelopment, we have changed from a project-led approach that focused on redeveloping individual buildings to a holistic district-based, planning-led model. Through large-scale district planning studies, we have established a ‘Planning Reserve’ system that facilitates our implementation of projects in old districts through the restructuring and replanning of land use. It enables the URA to formulate the largest ever Corporate Plan for the next five years (2021/22 - 2025/26) with 18,000 new residential units coming from projects that are to be commenced and other ongoing projects. Compared with the delivery of around 24,000 residential units in 20 years since the URA’s establishment, the future redevelopment will take place at a faster pace.
Building rehabilitation is another core business of ours. We have worked with the Government to launch maintenance subsidy schemes covering different parts of buildings, managing over $19 billion of public funds. As of July 2021, we estimate that maintenance works for more than 15,000 buildings, along with modernisation works for about 8,000 lifts, will be subsidised to improve building safety and hygiene. The number of buildings covered is more than five times the total in 2016. The URA has also introduced various measures to support owners in organising maintenance works more easily. Among them, the Smart Tender Building Rehabilitation Facilitating Services scheme launched in 2016 has so far assisted building owners of some 208,000 flats to arrange maintenance works, enhancing their confidence and ability in engaging works consultants and contractors through open tender. Meanwhile, the Building Rehabilitation Platform launched in 2019 offers a range of comprehensive, all-in-one information and support services. Over the past two years, the platform has attracted more than 100,000 visitors to browse and download standard contracts for engaging works consultants and contractors, making the organisation of maintenance works more attainable to building owners.
Strategic studies completed setting out blueprint for long-term urban renewal
Year 2021 is URA’s 20th anniversary and we very much look forward to the challenging urban renewal work in the next decade and beyond. To address more effectively the aggravating problem of ‘double-ageing’ in urban districts and buildings, we undertook the Yau Mong District Study (YMDS) and Study on New Strategy on Building Rehabilitation (NSBR) respectively in 2017, aiming to establish an implementation mechanism for sustainable and efficient urban renewal.
These two strategic studies were completed during the year in review, and their findings and recommendations have since been submitted to the Government for consideration. The YMDS report takes a district-based approach and features an in-depth research on the Institutional and Implementation Strategy of urban renewal. It includes a Master Renewal Concept Plan (MRCP) formulated as the blueprint for restructuring old urban areas. The plan identifies five core development nodes with different characteristics in Yau Ma Tei and Mong Kok, covering redevelopment potential, economic and livelihood activities, as well as historical and cultural elements. Making full use of the ‘5Rs’ strategies, the MRCP proposes the creation of green belts, open spaces and pedestrian networks in crowded old urban areas, and entails smart city and place-making initiatives to enhance the accessibility and vitality of these districts and to improve the overall living standards of residents.
The URA has identified locations with urban renewal potentials within the YMDS area, and formulated the Master Renewal Concept Plan that serves as a blueprint for regenerating the old district.
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“Our team has devised a blueprint for sustainable development... while proactively adopting a mindset of embracing innovative and digital technologies to strengthen our efficiency and effectiveness.”
Managing Director’s Statement Operating Review Corporate Sustainability Management Discussion and Analysis Projects at a Glance Corporate Governance