Redevelopment and acquisition of property

Facilitating Services (Pilot Scheme)

The URA provides assistance to owners as a consultantto help them assemble titles for commencing owner-initiated redevelopment.The URA has set up its wholly-owned subsidiary, Urban Redevelopment Facilitating Services Co. Ltd. (“URFS”), to implement Facilitating Services (Pilot Scheme).

The URFS mainly helps owners assemble titles for the joint sale of their property interests. Owners of not less than 50% of the interest in a site need to make a joint application to the URA. The URFS will select suitable applications for implementation.

The URFSwill, on behalf of the participating owners, engageconsultants and try to persuade yet-to-commit owners to join the Pilot Scheme for the joint sale of their property interests.

Unlike the URA-initiated redevelopment projects and the demand-led redevelopment projects, the property interests will be sold by auction to the purchaser other than the URA.

For details, please visit the URA website.