Page 43 - Urban Renewal Authority 2023-24 Annual Report

Responding to Redevelopment Request from Owners Chairman’s Statement

Owners Opinion Survey

In 2021/22, a new approach to the Demand-led concept was explored under the Preliminary Project Feasibility
Study for Sai Wan Ho through conducting an opinion survey with owners in the study area to solicit their views
on urban renewal initiatives covering redevelopment, rehabilitation and retrofitting. The outcomes of the survey
were used by the URA to guide the formulation of the Master Renewal Plan for the study area. A similar approach Managing Director’s Statement
is being undertaken in the District Studies for Sham Shui Po and Tsuen Wan, forming one of the modes of
consultation in the study process. (More details about the two district studies as noted on page 28 under District
Studies.)

Facilitating Service (FS) Scheme

Launched in 2011 by the Urban Redevelopment Facilitating Services Company Limited (URFSL), a wholly-owned
subsidiary of the URA, the Joint Sale (JS) Service aims to help property owners of a building jointly sell their
properties to private developers for redevelopment by rendering assistance in procuring and managing property Operating Review
valuations and legal services, as well as facilitating the tendering or auctioning process.
In 2023/24, three JS applications were received. One application from an estate in Kowloon City was accepted
by the URA’s Facilitating Service Panel (FSP) after careful assessment, and the owners are considering pursuing
joint-sale of their properties under the FS Scheme. The other two applications were turned down by FSP as they
failed the financial viability or building condition tests.
In anticipation of a reduction of the compulsory sale application threshold upon the passage of the Land
(Compulsory Sale for Redevelopment) (Amendment) Bill 2023 (“the Amendment Bill”) by the Legislative Council,
the URFSL is planning to implement various measures to enhance the JS Service under the FS Scheme. These Corporate Sustainability
include lowering the “basic threshold requirement” for applying for JS Services from 50 percent of the total
undivided shares of a lot to 40 percent, as well as lowering the “joint sale threshold requirement” for triggering
JS services to align with the reduced compulsory sale application thresholds under the Amendment Bill. In
addition, URFSL will explore the feasibility to include lots adjoining the applicant building in a joint-sale when this
can increase the redevelopment’s financial viability.

Apart from offering free facilitating services to members of undissolved CBSs affected by URA’s projects to help
them obtain legal titles for their flats through the dissolution of their CBSs, the URFSL also facilitates the
redevelopment of under-utilised sites occupied by non-governmental organisations (NGOs) under the “Single
Site, Multiple Use” model. (More elaboration as noted on page 43 under the “Single Site, Multiple Use”
Facilitation Scheme.) Management Discussion and Analysis

Flat-for-Flat (FFF) Arrangement
Since its introduction in 2011, FFF arrangement has been offered to affected owners in 31 redevelopment
1
projects . Domestic owner-occupiers affected by these projects were offered an additional option to purchase in-
situ FFF units in the respective redevelopment sites, FFF units in selected nearby URA development projects, or
FFF units in the completed URA’s self-developed Kai Tak Development. As of May 2024, a total of 52 owners
have taken up the FFF offers, involving 44 units in the Kai Tak Development and eight in-situ units. Projects at a Glance

1 Nine of the projects were under the Demand-led Pilot Scheme. Corporate Governance

URA ANNUAL REPORT 2023-24 41