Policy Address

Urban Renewal with a New Mind-set

219. Embracing a new mind-set, we will explore the use of newly developed land to take forward urban renewal. Relevant measures include:

1. Relax the current arrangement for the transfer of plot ratio within the same district to allow the cross-district transfer of unutilised plot ratio from redevelopment projects to other districts or even NDAs, to enhance market incentives for redevelopment.

2. Reserve three sites in Kwu Tung North and Fanling North NDAs in the Northern Metropolis for the URA to construct new buildings, which will be used as replacement flats under the "Flat-for-Flat" Scheme in the future.

3. Suitably increase the plot ratio of private redevelopment projects, on a pilot basis, for the seven designated areas¹⁴ with more pressing redevelopment need, allowing the increased plot ratio to be transferred for utilisation in the Northern Metropolis or other districts, or to be used for offsetting the premium payable for bidding land, lease modification in other projects or in-situ land exchange.

Enhance Construction Safety

220. The Government will amend the Buildings Ordinance next year to enhance the deterrent effect against non-compliance with statutory notices or orders and serious unauthorised building works, and strengthen regulation of contractors.