Chevalier Won URA’s Tai Kok Tsui Project
The Urban Renewal Authority announced yesterday that Chevalier Pacific Limited, a wholly owned subsidiary of Chevalier International Holdings Limited, has won the contract for the development of Fuk Chak Street-Li Tak Street demand-led redevelopment project in Tai Kok Tsui. The project site, which covers an area of 8,267 square feet, commenced in June 2013 under the second round of the URA’s Demand-led Redevelopment Projects (Pilot Scheme). It is tentatively scheduled for completion by 2020 or 2021. The project will provide about 96 residential units with a total residential gross floor area of about 54,928 square feet and 6,856 square feet of commercial gross floor area.
URA Improves Payment for Rehousing Tenants
The Urban Renewal Authority yesterday approved enhancements to policies for ex-gratia payment and rehousing to domestic tenants who are affected by its redevelopment projects. The ex-gratia allowance for eligible domestic tenants will be calculated with a sliding scale that begins with the first HK$10,000 of the rateable value multiplied by nine. The ex-gratia allowance for a one-person household will be increased from the current minimum payment of HK$70,000 to HK$160,000. That for two-person or larger households will increase from HK$80,000 to HK$180,000.