URA takes role of redevelopment facilitator

They will assist in the urban renewal and tackle the problem of urban decay in old dilapidated areas.

According to Hong Kong Information Services Department, the Urban Renewal Authority Board approved the framework for it to take up the role of a redevelopment facilitator.

Some owners of property in old buildings like to band together in a joint sale of their combined interests to investors or developers, but they might not be wise in sale or redevelopment matters, said Authority chairman Barry Cheung.

The role of the authority is strictly limited to one of a co-coordinator to maintain its credibility and impartiality throughout the process. It will not compensate any tenants in the buildings under a facilitation arrangement.