URA to review compensation policy in acquisition of properties affected by its projects
發佈日期: 2025-07-27 21:17
TVB News
The Urban Renewal Authority, or URA, is looking into reviewing the compensation principles in the acquisition of properties affected by its urban renewal projects.
Speaking with TVB News, Donald Choi, the newly appointed managing director of the URA, said the original rule will still apply to the six currently planned projects and a new policy may be adopted for projects in the future.
Under the current compensation mechanism, residential property owners affected by redevelopment projects will receive compensation equivalent to the market price of a similar seven-year-old flat in the same district.
Property veteran Donald Choi has recently taken up the position as the managing director of the URA.
He said it's now time to review the compensation arrangement which has been implemented since 2001.
DONALD CHOI Managing Director, URA: There is not only just about the seven-year compensation but also various options, for example, flat replacement. Does it need to be in the same neighbourhood? Or there will be options for people who choose to go to the New Territories or new development area where there are more greenery and open space. Maybe for the same money, they can get a bigger flat as well.
Heritage preservation and revitalisation are also among the URA's concerns.
Western market, a four-storey building in Edwardian style located in Sheung Wan, is the oldest market building surviving in the city.
There used to be many fabric shops inside.
As the URA will conduct renovation work there this year, Choi said they have yet to decide the future usage of the declared monument.
Rather than just preserving or conserving the building and making it into a museum piece, off limit to daily life, we must actually within the urban renewal heritage conservation inject new life into the building. That means the activities, events, content within the building itself need to actually cater for modern living environment and the need of the community.
He added the future usage depends on public opinion.
