Redevelopment initiative reaps 47 applications

Government to conduct a mid-term review of the new measures to fine-tune the policy or implementation issues and to facilitate better use of existing industrial buildings.

The Lands Department had received 47 applications under the new initiatives to encourage redevelopment and wholesale conversion of industrial buildings by the end of March - 37 for wholesale conversion and 10 for redevelopment.

Secretary for Development Carrie Lam on Wednesday told lawmakers the Government is encouraged by the response, according to a Lands Department report.

The department has approved 13 wholesale conversion applications and is processing another 20. Most are located in Kwun Tong and Kowloon Bay. The proposed new uses for the converted buildings include offices, eateries, retail and service trades, and hotels.

Seven redevelopment applications have been approved and the department is processing the remaining three. The approved cases are mainly in Yau Tong, Cheung Sha Wan and Kwun Tong, and involve residential, commercial and hotel developments.

Mrs Lam said the Government will conduct a mid-term review of the new measures to identify policy or implementation issues needing to be addressed to encourage and facilitate better use of the existing stock of industrial buildings to support Hong Kong’s changing social and economic needs.

“We have already started the mid-term review and aim to complete it in the latter half of this year.”