Hong Kong’s Rare Plot Incentive Will Help Resurrect Decaying Districts, Analysts Say The Hong Kong government's latest effort to revitalize its decaying districts has raised hopes among analysts that long stalled redevelopment projects may gain momentum.
The bonus plot ratio pilot scheme, set to launch next month in seven old neighborhoods, offers private developers a 20% boost in gross floor area or an equivalent land premium value.
This generous incentive is being hailed as the spark needed to revitalize areas like Sham Shui Po, where abandoned buildings and vacant lots have become a blight on the city's urban landscape.