Page 9 - Urban Renewal Authority 2023-24 Annual Report

In the past year, the URA has been progressing the Nga Tsin Wai Road Project through a comprehensive Chairman’s Statement
approach that includes redevelopment, building rehabilitation, preservation and revitalisation. The aim is to
enhance the district’s overall living environment and landscape by integrating existing aged buildings and
community facilities with new developments, fostering a harmonious blend of the old and the new.

The Nga Tsin Wai Road Project also proposed a new Joint-user Government Complex (JUC) within the Carpenter
Road Park area to house the relocated Kowloon City Wet Market and adjacent community facilities. Alongside
the new JUC, the URA will also upgrade the park’s leisure amenities, enhance its connectivity with the
surrounding community, and improve accessibility for the public’s benefit. Managing Director’s Statement

The URA has also introduced the District-based Building Rehabilitation Pilot Scheme, offering financial assistance
and technical support to the owners of about 40 buildings located in the vicinity of the project to facilitate timely
repair and maintain the buildings that do not require immediate redevelopment.
The Lung Shing area of Kowloon City has long been known for its vibrant market activities and the Chiu-chow
and Thai dining culture. To preserve these local characteristics, the URA has consulted with the shop operators
to incorporate their perspectives into the project plan and design, enabling the development of suitable
relocation or transitional arrangements to accommodate their operational needs. Through these arrangements,
we hope to encourage shop operators to sustain their businesses both during and after the completion of the Operating Review
project, thereby preserving the market’s atmosphere and local characteristics.

At the end of April this year, the URA extended acquisition offers to over 1,000 owners of domestic and non-
domestic properties within the project. By the end of July, more than 70 percent of the owners had accepted the
offers. Additionally, we received favourable responses regarding our proposed relocation and transitional
arrangements from the shop operators.

Supporting the Government to Implement Policies within our Ability Corporate Sustainability

The URA strives to support the Government’s policies and allocates resources to implement various initiatives.
Last year, the URA launched the sale of 260 Starter Homes (SH) units of eResidence Tower 3 in Hung Hom for
eligible applicants. Sales of these SH units for first-time home buyers were completed at the end of March this
year, with 173 units sold, accounting for 67 percent. Additionally, the demolition works for the redevelopment
project of Tai Hang Sai Estate, a joint project with the Hong Kong Settlers Housing Corporation Limited, is
expected to commence early next year. This project aims to provide approximately 2,000 SH units upon its
completion in 2030/31.

We are also making good progress in the pilot redevelopment project under the Civil Servants’ Co-operative
Building Society (CBS) Scheme at Kau Pui Lung Road/Chi Kiang Street in Kowloon City, with only one co-
operative society, out of a total of nine, remaining to finalise the dissolution procedures. Together with the Management Discussion and Analysis
planned 950 SH units from this project, the URA will deliver about 3,200 SH units in total over the next few years
to meet the growing home ownership aspirations of prospective flat buyers.

Last year, the Development Bureau
established the Dedicated Office of
Support Services for Minority Owners
under Compulsory Sale and assigned the
URA to set up an independently operated
support centre to provide one-stop
support services to minority owners at
various stages of the compulsory sale
process. In view of the lowering of the Projects at a Glance
compulsory sale application thresholds,
the URA is exploring enhancing its own
Joint Sale Service to provide further
assistance to owners in assembling
property interests for joint sale. These two
measures are expected to expedite the
redevelopment of older districts and Located at Cheung Sha Wan, the Support Service Centre for Minority Owners under
improve the living environment for Compulsory Sale offers comprehensive one-stop support services to minority
residents. owners at various stages of the compulsory sale process. Corporate Governance

URA ANNUAL REPORT 2023-24 7