Kau Pui Lung/Chi Kiang Development Scheme homeowners offered more than HK$15,000 per square foot

The Urban Renewal Authority project site at Kau Pui Lung Road. SING TAO
The Urban Renewal Authority project site at Kau Pui Lung Road. SING TAO

The Urban Renewal Authority will offer HK$15,385 per square foot to eligible property owners of the Kau Pui Lung Road/Chi Kiang Street Development Scheme.

Most of the owners will need to pay a premium to lift alienation restrictions on leases, except for a few who have already done so, the authority announced on Monday.

“Given that the reference rate of premium adopted for this project has been set at HK$1,177 per sq ft, these owner-occupiers will receive HK$14,208 per sq ft of saleable area for their flats,” the authority said.

Property owners will have 60 days to consider whether to take the offer.