Page 64 - URA Annual Report 2021-22

CORPORATE SUSTAINABILITY
Sustaining the Economy of Old Areas
The URA endeavours to revitalise the urban neighbourhood through strengthening the economic, social and environment fabrics for the benefit of the community. Through a process of careful planning for sustainable urban renewal, we create spaces for business and job opportunities at the renewed districts while helping social enterprises to thrive with a view to creating a vibrant community.
Helping our Tenants and the Needy amidst COVID-19
In view of the economic impact brought by the ongoing pandemic, the URA continued to extend the special rent relief measures1 for its domestic and commercial tenants in 2021/22, covering the period until September 2022 to assist over 800 tenants with more targeted efforts and greater magnitude. The six rounds of measures in total since April 2020 has noted a cumulative amount of rent concession exceeding $200 million.
(Left) A tenant is pleased with the boxes of face masks and other anti-epidemic supplies received from URA during the pandemic. (Right) Spraying of anti- virus coating in the common area of an old building.
In addition to financial assistance, the URA allocated over 50 vacant units in its rehousing blocks and acquired properties for its domestic tenants and staff for emergency isolation use amidst the fifth wave of the pandemic. We also teamed up with the Tung Wah Group of Hospitals (TWGHs) to deliver resource packs with sanitising and hygienic products to the tenants in need. In addition, the URA installed ‘U-Trap Refill Automators’ in over 700 flats to help prevent the spread of viruses due to dried-up drainage pipes. Contractors were also arranged to spray anti-virus coatings in common areas of over 200 buildings in old urban areas.
Promoting Local Economic Activities
Conscientious efforts were made to ensure local businesses continue to thrive in the process of urban renewal. The URA’s completed projects, the Prince Edward Road West Revitalisation Project and the 618 Shanghai Street Project, served to showcase how the overall environment of decades-old structures can be transformed to cultivate a place where old meets new while enhancing economic vibrancy for the local community. Tactical measures were adopted for the implementation of the Peel Street/Graham Street Project (H18) in order to preserve the characteristics of the nearby century-old market while injecting new vitality into the neighourhood. Following a series of promotional activities, Graham Market and the new market block at Site B of H18 have become an iconic spot for local residents to purchase a variety of fresh food and goods meeting their daily needs.
1 The special rent relief measures for URA’s domestic and commercial tenants have been in place since April 2020.
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