A new mechanism was approved during a Town Planning Board Meeting on 16 June, allowing private developers (including Urban Renewal Authority) to request for the transfer of plot ratio from one or more smaller development sites, known as Sending Sites, to not more than two larger development sites, known as Receiving Sites.
This pilot scheme currently applies only to Yau Ma Tei and Mong Kok districts. The scheme permits new Residential (Group A) development on a Receiving Site to exceed the current PR restriction of 9.0 to a maximum of 11.7 in the two districts. If the PR of an existing building on the Receiving Site already exceeds 9.0, the maximum PR could be increased beyond 11.7. Our Senior Director, Alex Leung has provided comments on the scheme’s impacts to the following newspapers.
Report from Singtao: https://lnkd.in/dMmBxM7d
Orientation: https://lnkd.in/dZyJqQMT
