{
  "id": 2111050,
  "title": "'Bonus plot ratio scheme a core step in urban renewal'",
  "url": "https://urgent.news/2026/08/20/bonus-plot-ratio-scheme-a-core-step-in-urban-renewal",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-20T09:40:55.000Z",
  "source": {
    "name": "RTHK News",
    "slug": "rthk-news",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1866872-20260820.htm"
  },
  "original_language": "en",
  "account": "Property experts have welcomed the government's introduction of the Bonus Plot Ratio Pilot Scheme, which they believe marks a significant step in promoting urban renewal in Hong Kong. The scheme is targeted at encouraging developers to revitalize the city's aging residential buildings in seven designated districts, recognized as among the oldest neighborhoods. Under the new program, developers can acquire an additional 20 percent premium-free gross floor area bonus for tearing down and redeveloping these older buildings, provided the structures are at least 50 years old and the site measures at least 700 square meters.\n\nHannah Jeong, executive director and head of valuation and advisory services at CBRE Hong Kong, expressed her approval of the initiative, stating that the 20 percent bonus ratio offers a valuable incentive to offset redevelopment costs. She acknowledged that the immediate impact may not be evident, but the scheme could stimulate developers to actively seek redevelopment opportunities and consolidate resources for larger projects.\n\nLau Chun-kong, managing director at Colliers, echoed a similar sentiment, describing the move as an important initiative to boost the redevelopment potential of certain old buildings. The scheme could attract developers or landowners who have acquired partial ownership of sites but have yet to complete redevelopment projects. With the new incentive, they would have higher land values to support or subsidize the acquisition of older units.\n\nThe seven major old districts targeted by the scheme include Cheung Sha Wan, Ma Tau Kok, Mong Kok, Sai Ying Pun, Sheung Wan, Tsuen Wan, Wan Chai, and Yau Ma Tei. Developers who commit to redeveloping qualified old residential buildings into new homes will receive the 20 percent bonus in floor space without charge. Additionally, they can convert the bonus into a land premium credit, which can be utilized in other land deals within the Northern Metropolis or other regions in the Special Administrative Region of Hong Kong. The scheme is set to commence on September 1 and is expected to continue for five years.",
  "summary": "Property experts on Thursday welcomed the government's launch of the Bonus Plot Ratio Pilot Scheme, saying it marks an important step for Hong Kong in promoting urban renewal. The scheme is designed to encourage private urban renewal and incentivise developers to redevelop the city's rapidly ageing residential buildings. Under the new scheme, developers looking to tear down and redevelop ageing…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "RTHK News - Finance",
        "title": "'Bonus plot ratio scheme a core step in urban renewal'",
        "url": "https://urgent.news/2026/08/20/bonus-plot-ratio-scheme-a-core-step-in-urban-renewal-2111096",
        "published": "2026-08-20T09:40:55.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}