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Old July 18th, 2009, 08:42 PM   #821
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成業街商廈項目
By 鄧麗欣之戀 from skyscrapers.cn :

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Old July 20th, 2009, 07:29 PM   #822
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Developer asks court to overturn rejection of high-rise
18 July 2009
South China Morning Post

A developer behind a Happy Valley project is asking a court to overturn the Building Authority's rejection of its development plan for being too high for the neighbourhood.

Fortune Key is fighting to overturn decisions made by the Building Authority and its appeal tribunal that are blocking its plan - submitted in September 2006 - to build a six-storey and a 47-storey block at a residential site in Sing Woo Road and Holly Road.

Fortune Key claims the authority's rejection on the basis of height is unlawful. On Thursday it filed an application for leave to apply for a judicial review in the High Court, contending that the site was covered by the outline zoning plan of April 2003, which imposes no restrictions on building heights or plot ratios. Plot ratio is the total floor area of buildings permitted to be built on a site.

The authority rejected the plan in October 2006 after seeking advice from a district planning officer.

Its reasons were that the development's visual impact would be undesirable because it was much taller than the surrounding buildings, and that its plot ratio of almost 10 was not acceptable.

Furthermore, it said the site fell within a density zone under the Hong Kong Planning Standards and guidelines limiting the plot ratio to 5 - or a building of six storeys plus a parking level.

Fortune Key appealed against the decision through the authority's appeal tribunal, which upheld the authority's decision on April 22.

In its application for a judicial review, the company claimed that the authority misapplied a provision of the Building Ordinance by relying on advice from a district planning officer.

It also faulted the appeal tribunal for failing to exercise its own judgment on the merits of the plan. The company now wants a court order requiring the tribunal to reconsider the decision in accordance with the law and to approve the development.

According to the application, the company has submitted five building plans, including the plan in question, since October 2005.

All were rejected except one that it submitted in December 2005 to build a single building of 31 storeys.
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Old July 21st, 2009, 05:20 AM   #823
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By fatshe - Tai Koo hotel project :



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Old July 21st, 2009, 06:33 PM   #824
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私宅貨尾兩年最多
2009年07月21日(二)


近月多個大型新盤開售,刺激住宅貨尾量上升。中原地產指出,上季待售的一手私宅貨尾單位按季增448個,令累積貨尾量增至9,301個,為○七年第二季後的近八季新高,當中以紅磡區增加417個貨尾單位最多。至於整體貨尾比重亦按季升1.8個百分點至12.3%,創○四年第四季後新高。

該公司研究部聯席董事黃良昇表示,貨尾量增加最多的紅磡區現約有533個貨尾單位,馬鞍山及黃大仙的貨尾量則增加374個及365個,至522個及572個。

長實貨尾單位增400個至528個,信置及新地貨尾量增282個及224個,至948個及949個。
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Old July 21st, 2009, 07:14 PM   #825
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Leighton: Secures A$410M Sewerage Tunnel Proj In Hong Kong
20 July 2009

MELBOURNE (Dow Jones)--Leighton Holdings Ltd. (LEI.AU), Australia's largest construction company, said Tuesday that one of its joint ventures has won a A$410 million Hong Kong sewage tunneling project.

Sydney-based Leighton along with Leonhard Nilsen & Sonner AS was awarded the contract by the Hong Kong Drainage Services Department for the construction of a sewage conveyance system from Aberdeen to Sai Ying Pun, on Hong Kong Island, it said in a statement.

The project is part of a government plan to restore the city's harbor and the work included the design and construction of 7.5 kilometers of deep sewage tunnels, Leighton said. Works will start next month with completion scheduled for October 2013.

Leighton will work with Macmahon Holdings Ltd. to draw on its experience with construction of deep mining shafts in Australia.

In a separate statement, Leighton said it has completed a $230 million five-year fixed medium term notes issuance to replace existing bank debt facilities and diversify its funding sources.

"We are keen to diversify and broaden our sources of funding," Chief Financial Officer Scott Charlton said.

"The program has a maximum limit of A$1 billion, which provides flexibility for us to retap the market if further opportunities arise in the future," he said.
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Old July 22nd, 2009, 03:34 PM   #826
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牛頭角工業村
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Old July 23rd, 2009, 07:27 PM   #827
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灣 仔 合 和 GARDENEast 呎 租 45 元



(星島日報報道)服務式住宅近年在港大行其道,合和首個在灣仔的服務式住宅項目GARDENEast,就獲得市場不俗的反應,現時出租率達八成,平均呎租約四十五元,更有歐洲金融機構,大手連環租用達三十伙,涉資月租約七十萬元,為目前項目最大手的租客。

合和旗下灣仔GARDENEast,為該集團首個在港打造的服務式住宅項目,單位面積由三百九十五至六百七十二方呎不等,現時出租率已達八成,平均呎租約四十五元,租期至少一個月,最長可達十二個月。

GARDENEast由今年一月份開始招租,市場消息指,其中一家歐洲金融機構,於早前大手租用項目多達三十個單位,分布在各樓層,平均呎租四十五元,為目
前該廈最大手的租賃個案,估計涉及月租約七十萬元。另外,亦有企業連環租用約十伙。

合和物業代理租務經理黃麗湘表示,項目並非由舊有建築翻新而成,這與本港大部分服務式住宅不同,因此GARDENEast相比之下質素將更高。而目前租戶組合中,大部分均為海外僱員及專業人士,來自銀行、保險及金融服務業的佔租客比例約五成。當中以一房單位及行政套房最受歡迎,行政套房的出租率更超過九成。

據了解,項目樓高二十八層,以單幢式設計,合共提供二百一十六伙,分層單位面積由三百九十五至六百七十二伙不等。

發展商介紹,項目位處灣仔核心地段,毗鄰QRE Plaza、合和中心及胡忠大廈等。

其次,項目建築概念以城市綠洲為主,綠化休憩地方比例較高,除五樓平台及天台自成一角,地下翠綠池園亦佔地五千多方呎

2009-07-23
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Old July 24th, 2009, 04:38 PM   #828
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Florient Rise
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Old July 25th, 2009, 07:06 AM   #829
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HK primed for massive public works programme
22 July 2009
SCMP

A large number of long-awaited "mega projects" is poised to move from drawing boards to construction sites in Hong Kong and no fewer than 40 smaller projects will commence in earnest next year, including escalators, walkways, road improvements, sewers and the replacement of 3,000 kilometres of water mains.

The explosion of activity looks set to begin a watershed decade for Hong Kong's infrastructure development.

To illustrate the sheer scale of upcoming public works, a useful comparison can be made with the Airport Core Programme of the 1990s, Hong Kong's largest infrastructure project to date.

In the next few years, according to Secretary for Development Carrie Lam Cheng Yuet-ngor, infrastructure spending could rise from a recent low of HK$20 billion to reach HK$50 billion annually and we could see close to HK$300 billion spent between next year and 2019.

This sum will dwarf the Airport Core Programme's total cost of HK$160 billion, even accounting for inflationary pressures. As such, the next decade looks set to witness the largest development programme in Hong Kong's history.

Despite the timing, labelling the so-called Ten Mega Projects "stimulus measures" is inaccurate. They were originally proposed in October 2007, when the economy was booming, and should instead be considered an exercise in catching up after 10 years of infrastructure stagnation and under-spending.

With the mainland in the ascendant when it comes to appealing to foreign investors, the Hong Kong government rightly recognises the importance of competitiveness, connectivity and relevance to China, and responded with 2007's impressive shopping list of major infrastructure improvements.

Yet as with any massive use of public funds, there must be some probing questions. For example, will the government's works programme succeed in overcoming the impediments that have thwarted large-scale development in Hong Kong over the last decade? Also, will this massive spending genuinely enhance Hong Kong's competitiveness, as illustrated by tangible economic benefits?

Regarding historic impediments, the recession may provide a smoother passage through the Legislative Council for large infrastructure projects, since they provide needed jobs and economic stimulus.

As the economy warms, however, and unemployment becomes less of a political issue, Legco may revert to its traditional role as a "party of opposition", challenging the government at every turn.

Considering the sheer scale and diversity of projects on the drawing boards, however, administrative streamlining, project management and co-ordination must aim to synchronise progressive development in a manner similar to the New Airport Projects Co-ordination Office.

Never a glamorous industry, construction will also suffer as the economy picks up, since graduates will again covet office jobs in finance or professional services. While significant slumps in development in the Middle East and Macau will likely fuel a return of experienced, silver-haired engineers and development consultants, a stagnant and ageing site workforce may struggle to cope with such a major works programme, possibly leading to the need for imported labour, reminiscent of the Airport Core Programme.

This is particularly true in demanding specialist fields - such as tunnelling - where locally based expertise is thin on the ground, and in turn could lead to disputes with local trade union representatives.

From an economic perspective, some critics may decry the government's failure to provide adequate proof of return on the massive public funds investment. But with Guangdong developing so rapidly, Hong Kong has no choice but to keep pace to avoid the risk of being supplanted by rivals.

Infrastructure development, and seamless "super-connectivity" with the mainland and beyond, should therefore be viewed as a prudent insurance policy to guard our position of comparative advantage in traditional roles such as logistics, trade, aviation and shipping.

Overall, infrastructure development represents a necessary investment in the foundations of our future prosperity, as cost benefit analysis supports future gross domestic product growth. This will occur directly, through provision of construction jobs and opportunities for the myriad associated development sectors, and indirectly, by better facilitating trade, tourism and remote manufacturing.

Yet despite such an expansive and complex development decade ahead, there is a risk that historic impediments may resurface.

Hong Kong must never again be allowed to lurch from infrastructure feast to famine, and future major development planning must stretch not just 10 years, but towards a vision for Hong Kong 20 to 30 years ahead.

Timothy Peirson-Smith is managing director of Executive Counsel
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Old July 25th, 2009, 07:32 PM   #830
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Plan to lower sales threshold pushed Hopes rekindled as government brings issue to Legco panel
22 July 2009
South China Morning Post

Property agents are hoping the government will succeed in a second push to lower the sales threshold needed to trigger compulsory acquisitions of all units in redevelopment projects and have begun to search for likely targets among the city's old buildings for developers.

"A reduction in the threshold could help developers acquire old buildings for redevelopment. It would provide more opportunities to acquire full ownership of the buildings," said Alex Ng, a director at property consultant Knight Frank.

The revival of interest in redevelopment projects comes after Secretary for Development Carrie Lam Cheng Yuet-ngor last month asked the Development Affairs Panel of the Legislative Council to re-examine a proposal to cut the minimum number of sales acceptances from unit holders to 80 per cent from the present 90 per cent in order to trigger the compulsory acquisition of all units.

The panel briefly discussed the proposal at a meeting last week but no decision was taken and Legco has now begun its summer break.

Two years ago a similar plan was rejected amid strong opposition from critics who said it would disadvantage unit holders, and Mrs Lam was last month forced to defend the re-introduction of the proposed measure against criticism from the League of Social Democrats' Albert Chan Wai-yip, who said it would help developers rob people of their flats.

Interest in collective sales of old buildings waned after the outbreak of the global financial crisis last year. But in recent months both individual flat owners and property agents have begun showing renewed interest in such deals.

Flat owners could be attracted to collective deals if this boosted the value of their units, and property agents who structured such deals to present them to developers stand to earn substantial commissions.

Au Wing-wah, the chairman of Richfield Group Holdings, a Hong Kong-listed investment holding company providing property brokerage services, said his group had nine projects worth HK$3 billion that could reach collective sales agreement with 90 per cent of the owners next month. All of the projects have chosen buyers.

If the government cut the minimum number of sales acceptances from flat owners to 80 per cent, Mr Au said more than 20 projects would be ready for sale to developers.

Some individual flat owners of Merry Terrace in Mid-Levels who failed to acquire the necessary level of approvals to sell their building under a collective agreement early last year have now appointed property agency Savills to handle a new bid.

Their timing could be right, said Mr Ng, since some developers might now consider buying old buildings as the market had improved.

Surveyor Albert So Chun-hin, who has handled several collective sales of old buildings in the past two years, also said property agents were back in the market trying to structure collective sales deals among owners of units in old buildings with redevelopment potential.

"It will be easier for developers to acquire old buildings for redevelopment if the government reduced the threshold for triggering the Land [Compulsory Sales for Redevelopment] Ordinance."

But the sales threshold was not the only challenge facing developers interested in redeveloping old buildings, said Gabriel Cheng Hon-wah, a director in the investment department at Savills.

The attraction of redeveloping old buildings had been affected by several restrictions introduced in many districts in recent years that limited the density of new developments.

As a result the choices for the developers would be limited to districts such as Sai Wan, the Western Mid-Levels, Tai Kok Tsui and Sham Shui Po.
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Old July 26th, 2009, 06:20 PM   #831
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Supply of new flats lowest in five years Fewer units push up prices of HK homes
25 July 2009
South China Morning Post

Hong Kong may be in recession, but the limited supply of new flats - now at a five-year low - has helped push up residential property prices in the past few months, and they could go higher if the economy improves, experts say.

The latest figures from the Transport and Housing Bureau show units available for sale fell 9.26 per cent to 49,000 units at the end of last month from 54,000 at the end of March. This is the lowest level since records began in the third quarter of 2004.

Including units on which work has yet to begin, new residential supply expected over the next four years has decreased 9.68 per cent to only 56,000 flats, also a five-year low, according to Centaline Property Agency. It estimated that new residential supply would average only 12,000 units annually over the next four years.

"The tight residential supply helps cushion the effects of the economic recession," said Wong Leung-shing, an associate director of research at Centaline. "A crash in property prices and a lot of flat-owners falling into negative equity are unlikely to happen again."

The Centaline City Leading Index shows home prices have risen 19.3 per cent since the beginning of this year on improved liquidity, low interest rates and increased purchases from mainland buyers.

However, Mr Wong said he believed further growth in property prices largely depended on whether the economy would recover.

A sharp fall in new units available for sale was because of strong sales in the past few months. About 3,000 units were pre-sold in the second quarter, while only 1,000 units were sold in the first quarter. The new residential projects pre-sold in the first half included Sino Land's Lake Silver in Ma On Shan and Kerry Properties' Primrose Hill in Tsuen Wan.

Manfred Ho Chu, the head of research at BOC International, agreed property prices would rise further this year because of the tight supply and low interest rates, with luxury residential prices having the higher potential for growth.

"We are not facing a shortage of residential supply," said Mr Ho. "The stock of housing and number of households are in balance. But new demand for housing will increase once the economy improves."

He said the government should provide more development sites for sale if the economy recovered.

Eric Wong Chun-yu, a co-head of Asia property research at UBS, warned the property bubble and implosion of 1997 could be repeated if the government did not improve the land application list system or increase land supply.

"Gross domestic product is expected to rise in the fourth quarter, while inflation is also coming," he said. "This will encourage many people, particularly investors, to shift their investment to the property market for greater returns."

He added that the Hong Kong Housing Society or other authorities might suggest building more public housing after property prices rose to unsustainable levels.

"It will eventually lead to a possible repeat of the property bubble burst that we saw in 1997," he said.

Mr Wong suggested the government lower the threshold for auctions from 80 per cent of a site's reserve price to 50 or 60 per cent when the property market was improving or on an up-cycle.

Under the current application list system, a developer can trigger an auction by making a bid that is at least 80 per cent of a site's reserve price.

Shih Wing-ching, the chairman of Centaline Holdings, yesterday said transactions in the property market peaked in the second quarter.

He expects property sales to drop 15 to 20 per cent in the third quarter from the second quarter and property prices to be steady.
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Old July 27th, 2009, 07:25 PM   #832
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wtc more生意看升28%
2009年07月27日(一)


新地代理租務部副總經理鍾秀蓮稱,銅鑼灣wtc more翻新後,個別租戶每月營業額達七位數字,料該商場七、八月人流及營業額有24%及28.5%升幅,現時每日人流6萬至8萬。另上半年人流達 1,200萬,生意額逾3.71億元,按年升19%與近23%,平均新租及續租租金升幅約18%。
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Old July 27th, 2009, 07:41 PM   #833
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Where the heck is WTC More??
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Old July 28th, 2009, 06:34 PM   #834
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Quote:
Originally Posted by EricIsHim View Post
Where the heck is WTC More??
It's the old World Trade Centre renovated and re-branded.

http://www.wtcmore.com/
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Old July 28th, 2009, 07:29 PM   #835
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Quote:
Originally Posted by hkskyline View Post
It's the old World Trade Centre renovated and re-branded.

http://www.wtcmore.com/
icic... didn't know it has made a new brand there.
indeed it's a massive renovation for WTC; more like rebuilding the whole mall (it's really rebuilding, not renovating).

wonder how far has the project gone since march.
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Old July 29th, 2009, 06:48 PM   #836
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Quote:
Originally Posted by EricIsHim View Post
icic... didn't know it has made a new brand there.
indeed it's a massive renovation for WTC; more like rebuilding the whole mall (it's really rebuilding, not renovating).

wonder how far has the project gone since march.
The WTC renovation is complete. The mall looks quite different now, although the G/F ceiling is still a bit low!
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Old July 29th, 2009, 07:38 PM   #837
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Shack attack fails for now
The Standard
Wednesday, July 29, 2009



A 50-year-old shack-cum-shop surrounded by Causeway Bay skyscrapers was saved from the wrecker's ball after a last-minute change of heart by officials.

They said demolition was halted yesterday after the owner, interior designer Tong Wah-jor, applied for an injunction against a removal order issued by the Buildings Department on July 17.

Tong's father built the shack, in Matheson Street, half a century ago and it now doubles as his shop and family home.

A truck - apparently to be used in the demolition - arrived early yesterday, but later left.

However, Tong claims that media pressure has put the brakes on the department's plans.

Tong, 48, has been locked in legal battles with the department since June 2007, when a removal order was first issued.

He was notified last week of the imminent destruction of his premises.

Tong says officials have told him the shack is a hygiene blackspot but have not told him in what respect.

A department spokeswoman said the reason for the shack's removal is its illegality, not hygiene.

"[It] is an illegal structure because the occupant has never submitted a building plan to the department for approval."

The term hygiene blackspot came from the Home Affairs Department, she said, but the Buildings Department is seeking to get rid of it on legal grounds.

Tong said the shack was given a registered number by the government in 1985.

"If the government gives us the number, it means the shack is allowed us to stay," he said.

Tong is also in a legal battle over possession of the land with property firm Hysan Development, which is the owner of the property, according to the Buildings Department.

When he learned of the department's plans to demolish it, Tong sought an injunction to stop the move before his legal battle with Hysan begins on August 10.

Tong suspects this may behind the government's desire to tear the shack down. "If the shack is demolished, all the evidence will be lost [for my court case with Hysan]," he said.

But Mark Tung Yin-kwun, head of communications for Hysan, said the Building Department move is "completely independent" of its case with Tong.
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Old July 29th, 2009, 08:52 PM   #838
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地產代理:70%投資移民願投放逾半資金於樓市,尤其港島區住宅
29 July 2009

《經濟通通訊社29日專訊》美聯集團(01200)顧問張錦成於記者會表示,根據該行調查發現71%投資移民受訪者,願意投放逾一半資金於樓市,主要因為房地產比較保值,受訪者大多選擇較大型單位,如三、四房或洋房單位,合共佔52%。

至於投資地區方面,選擇投資港島區佔59%、選擇九龍區則佔27%,新界及離島則佔14%,主要因為港島區接近核心商業區,受不少優質客歡迎,再加上供應少,相對租金回報較高。近來亦有部份移民人士喜愛選擇300至400萬元的新界物業,然後將其他資金投入股市。(js)
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Old July 29th, 2009, 09:12 PM   #839
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RICS Offers International Views on Urban Renewal Strategy, New Ideas to be Submitted for Development Bureau's Consideration

HONG KONG, July 27 /PRNewswire-Asia/ -- In a year-long consultation on Urban Renewal Strategy (URS) Review, the Development Bureau of HKSAR Government has launched an overhaul review process since July 2008 in an attempt to collect views and encourage inputs from the industry and the public. RICS Task Force has been formed and working devotedly to amassing members' views and sharing overseas experiences on URS issues. In order to further encourage the participation from RICS members as well as other professionals in the industry in the Review, RICS has today organized a Conference with renowned overseas speakers in the UR field from UK and US as well as experts and practitioners from Hong Kong to share industry views on URS through insightful presentations and interactive panel discussion.

The Organizing Committee of the URS Conference is pleased to have Mrs. Carrie Lam, JP, Secretary for Development of the HKSAR Government as the Keynote Opening Address Speaker. Ms. Ada Wong Ying Kay, JP, Member of Steering Committee on URS Review set up by HKSAR Government, together with Hon Prof Patrick Lau Shau-shing, SBS, JP, member of Legislative Council, Dr. Law Chi-kwong, member of the Research Team on URS Review of The University of Hong Kong and Mr. Nicholas Brooke, Past RICS Global President have formed a forum for sharing views and experiences on URS with conference participants from the industry, related government departments and professional bodies. The Conference has attracted more than 150 participants from the architectural, engineering, planning, surveying and real estate fields.

Mr. David Tse, Chairman of the Organizing Committee of the URS Conference said, "Our objective of organizing such an industry-based and interactive Conference on URS is to draw attention from our members as well as other professions in the industry and to encourage their participation by contributing their professional views and experience on the urban redevelopment and revitalization issues. We aim at consolidating the views from the conference participants, and panel members, together with the overseas experiences from the three overseas speakers into a full report which will be submitted to the Development Bureau for consideration during the current stage of public engagement of the Review ending by December of this year."

Mr. Albert So, Chairman of RICS (Hong Kong) added, "RICS, as an international professional body, seeks to provide professional property view and advice on governmental policy by bringing in overseas experience and case-study sharing in order to help build a better and improved community in Hong Kong. Taking this conference as an example, we hope to give our views on the URS matter to the government by showcasing international insights and sharing among our members".

Background of "Urban Renewal Strategy Review"

The HKSAR Government has set up the Urban Renewal Authority (URA) in 2001 with a mission to create quality and vibrant living in Hong Kong - a better home in a world-class city. The Government has also published an Urban Renewal Strategy (URS) to provide broad policy guidance to the operation and works of URA.

The URS Review is structured into three stages, namely "Envisioning", "Public Engagement" and "Consensus Building". To allow a thorough deliberation of various urban renewal issues, the whole review process is expected to be completed in about two years.

The Envisioning Stage has last for about six months from July 2008 to January 2009 and is aimed to set the agenda for the review process and the range of topics and issues for discussion.

The Public Engagement Stage will take about nine to eleven months from February 2009 to December 2009. The purpose of this stage is to help the community to better understand what urban renewal can accomplish and the issues of concerns so that the Government may collect views on how the concerns could be addressed.

The Consensus Building Stage will take about three months from January 2010 to April 2010. The objective of this stage is to achieve the consensus needed to come up with directions for change to the existing URS.

About RICS & RICS Asia

RICS (Royal Institution of Chartered Surveyors) is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity - providing impartial, authoritative advice on key issues affecting businesses and society. RICS is the worlds' leading qualification when it comes to professional standards in land, property and construction. With over 140,000 members globally, RICS represents, regulates and promotes the work of property professionals throughout 146 countries.

The RICS Asia supports a network of over 11,000 individual professionals across the Asia region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam.
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Old July 29th, 2009, 09:21 PM   #840
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HK's major drainage project to complete in 2012

HONG KONG, March 7 (Xinhua) -- The three billion HK dollars ( 387 million U.S. dollars) Hong Kong West drainage tunnel project, to be completed in 2012, will raise the overall flood-protection level of the drainage system on northern Hong Kong Island, Director of Drainage Services of Hong Kong SAR Lau Ka-keung said Friday.

Speaking at the tunnel-boring-machine launch ceremony, he said the contractor is required to deploy two tunnel-boring machines simultaneously to shorten the construction period and reduce construction nuisance.

The 11-kilometer-long Hong Kong West drainage tunnel extends from Tai Hang to Cyberport. Thirty-four intakes will be constructed in Wan Chai and Central and Western Districts to intercept and convey the run-off in mid-hill for discharge into the sea near Cyberport. This will alleviate the flooding problem in the areas downstream.

The project is now hiring about 400 workers. It is expected to provide about 1,000 job opportunities when construction activities reach peak levels, said the official. Enditem
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