Policy Address
Expediting the Revitalisation of Old Industrial Districts
112. In the 2018 Policy Address, I announced a number of initiatives to revitalise industrial buildings, among which the increase of the maximum permissible plot ratio by 20% for redevelopment of old industrial buildings was well received. The Town Planning Board has so far approved more than 30 applications for redevelopment of industrial buildings, which may supply approximately 600 000 square metres of new floor space for commercial or industrial use. Land owners have also been approaching the LandsD for lease modification. To expedite the work, the DEVB will introduce a pilot scheme for charging land premium at “standard rates”. The DEVB and the LandsD are working out the details of the new scheme, which is targeted to be launched in early 2021.
Urban Renewal
113. With the Government’s support, the URA has, in recent years, adopted the “planning-led” and “district-based” approach in taking forward urban renewal. This approach has the benefit of allowing redevelopment projects to go beyond demolition and reconstruction of individual single-block buildings by capitalising on the opportunities brought by redevelopment to re-plan traffic routes, pedestrian facilities as well as greening and leisure areas within the district, thereby creating a more people-oriented community and bringing greater benefits to residents. The Kwun Tong Town Centre project, which is the largest single redevelopment project ever undertaken by the URA, is progressing towards this direction. Upon completion of the five development zones in the coming few years, the Kwun Tong Town Centre will be given a brand new look. The URA will adopt the same urban renewal approach in enhancing old districts such as Kowloon City, To Kwa Wan, Yau Ma Tei and Mong Kok.
