Page 39 - URA Annual Report 2021-22

Sustainability Study
Followed by the completion of the study in 2020, a framework for measuring urban renewal performance in five domains, namely ‘Economy’, ‘Environment’, ‘Society’, ‘Process’ and ‘People’, with a set of measureable key performance indicators (KPIs) were identified and accredited by the Social Value International. In 2021/22, selected KPIs were applied in seven redevelopment/rehabilitation projects to gauge their effectiveness and performance for internal evaluation. The KPI framework will be refined based on the findings to enhance applicability in other URA projects. In the long run, the indicators will serve to optimise the benefits of urban renewal projects under the ‘5Rs’ business strategies.
The Framework for Measuring Urban Renewal Performance in Sustainability
ECONOMY
ENVIRONMENT
◇ Economic vibrancy
◇ Environmental quality
◇ Resilience & risk reduction
◇ Resource efficiency
◇ Building & housing quailty
◇ Information and communication
technology facilities & application
◇ Land use
◇ Mobility
◇ Cultural vibrancy
SOCIETY
PROCESS
PEOPLE
◇ Rational and scientific approach
◇ Community and participatory approach
◇ Economic vitality and financial inclusion
◇ Living environment and everyday life
◇ Community vitality
◇ Resilience and mitigation measures
Preliminary Project Feasibility Studies (PPFSs)
A number of PPFSs were completed or being conducted for selected old urban areas to develop URA’s planning and project reserves. Three PPFSs covering two action areas in Kowloon City and one action area in Sham Shui Po have been ongoing since 2019/20. So far, four redevelopment projects identified from these studies were included in past approved Business Plans and all of them were commenced in either 2021 or 2022. Two other projects identified from YMDS were included in the approved Corporate Plan covering 2022/23 to 2026/27.
Two PPFSs for Sai Wan Ho and Wong Tai Sin districts were commenced in March and April 2021 respectively to explore urban renewal opportunities in the areas. A pilot survey in relation to the demand side of redevelopment and building rehabilitation initiatives was carried out as part of the PPFS for Sai Wan Ho. The survey respondents’ aspirations will be appropriately reflected in the draft master renewal plan under preparation.
URA ANNUAL REPORT 2021-22 33
Operating Review Corporate Sustainability Management Discussion and Analysis Projects at a Glance Corporate Governance