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Some 50 applications for third round of demand-led redevelopment project pilot scheme received

The Urban Renewal Authority (URA) announced that some 50 applications have so far been received for the third round of the demand-led redevelopment project (pilot scheme) by 5 pm today (Monday).   

A spokesperson for the URA said: "We are pleased to see that the pilot scheme, having been introduced for two years, is well received among many property owners.  There seems to be better understanding of the eligibility criteria for the pilot scheme and co-ordination among the owners in making their submissions."  

The applications will go through a screening and scoring process. In the next couple of months, the URA hopes to be able to select suitable projects for inclusion in the 2014/15 Annual Business Plan, which will be subject to the approval of the URA Board and the Financial Secretary, he added.