URA as a Facilitator in Redevelopment
The Urban Redevelopment Facilitating Services Co. Ltd., a subsidiary of the URA, is set up to facilitate interested property owners in assembling titles for joint sale in the market. Under the facilitation arrangement, the URA will neither acquire any interest nor compensate/rehouse any tenant within the application site, but will provide agency or consultancy services to the owners which include procuring and managing advice and services provided by various consultants to owners. Owners will have to contribute an amount to the work expenses while the URA will fund the balance. The URA invites applications from interested owners in July 2011.