Revitalization of Industrial Buildings

To accommodate “six industries where Hong Kong has enjoyed clear advantages” (namely, educational services, medical services, testing and certification, environmental industry, innovation and technology, and cultural and creative industries) a package of measures to facilitate change of use, redevelopment and wholesale conversion of industrial buildings was announced by the Chief Executive in his 2009-10 Policy Address, which includes a three-year “Revitalising Industrial Buildings” scheme.
On 31 January, 2007, a motion on assisting in the transformation of factory buildings was debated in the Legislative Council.
On 14 Oct 2009, plans to revitalise industrial buildings to accommodate the six industries were announced in the Policy Address. Details include:
1, Lower the threshold for compulsory sale for redevelopment of industrial buildings in non-industrial areas to facilitate the consolidation of fragmented ownership; 2, Enable owners to pay additional premiums according to the actual development density after redevelopment based on a “pay for what you build” approach; 3, Allow owners who modify the lease for redevelopment to opt to pay additional premiums by instalments over a period of five years at a fixed interest rate if the premiums payable exceed $20 million; and 4, Exempt owners who opt for the wholesale conversion of a building instead of redevelopment from paying the waiver fee for change of land use, provided that the requirement on age of property is met and planning permission is obtained.
On 1 April, 2010, the “Revitalisation of Industrial Buildings” plan was launched.

Acknowledgement: Revitalization Independence Partnership, Factory Artists Concern Group, Leung Po-shan, Lin Chiu-fai Terence
Information: (For more detail please refer to the footnote of Chinese version): Local newspapers/- Press releases from the Information Services Department, HKSAR Government/2009-10 Policy Address/ 2010-2011 The Budget/Revitalising Industrial Buildings official website/Revitalization Independence Partnership (RIP)/Facebook page of SPK Artists & Friends/Factory Artists Concern Group/Hong Kong Inmedia