Hong Kong to explore need for new law covering building repairs by landlords

Hong Kong to explore need for new law covering building repairs by landlords

Hong Kong’s Urban Renewal Authority will examine whether legislation should be introduced requiring landlords to create periodic maintenance plans for their blocks and ensure sufficient funds for the work. The study would also cover the possibility of creating a new statutory body to supervise building restoration and maintenance, according to the authority’s retiring head, Wai…

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The Urban Renewal Authority may consider issuing more bonds, the organisation’s managing director has said. Photo: Sun Yeung

Hong Kong’s Urban Renewal Authority to weigh bond issuance, borrowing after failed tender

Hong Kong’s cash-strapped Urban Renewal Authority may consider issuing bonds or borrowing more money as it reveals plans to take on a major redevelopment project in Kowloon City on its own after a failed tender in September. The authority’s managing director Wai Chi-sing said it was exploring the “self-initiated approach” to the Kai Tak Road/Sa…

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