Yuminfang illegal structures 90% accepted compensation

The redevelopment of Kwun Tong is in full swing. The Chief Executive of the URA, Wei Zhicheng, wrote a blog that revealed that before the deadline, the bureau received 91 replies from users of illegal structures in the Fifth Development Zone in the Yumin Square area. The proportion received was as high as 90%. Land resumption will be proposed next month.

Wei Zhicheng said that the ratio of operators and holders accepting compensation proposals was as high as 90% and 87% respectively. The bureau will initiate a land resumption procedure to the government in November. It is expected that the Government will take back the Land Acquisition Ordinance in the next year to recover all private land titles. It will take more than one year to complete the land resumption and clearance.

On the other hand, the Secretary for Development, Mr Wong Wai-lun, mentioned in the blog the Optimized Elevator Funding Scheme, which involves a total of $2.5 billion to encourage owners to improve the safety of old lifts. It is expected to accept the first round of applications at the end of March 2019, with funding for each lift. The amount is 60% of the project cost and the upper limit is 500,000 yuan.