The government will allocate HK$4 billion to fund long-term housing for Wang Fuk Court residents displaced by last year's Tai Po fire, according to Financial Secretary Paul Chan Mo-po.
In a move to protect property owners from bid-rigging in building repair works, Chan also announced an allocation of HK$300 million to the Urban Renewal Authority(URA).
He revealed that an enhanced version of "Smart Tender" will be launched in the second half of this year, offering professional advice and support for owners in engaging consultants and contractors with a more rigorous pre-qualified list.
To encourage uptake, the URA will provide subsidies to owners who utilize the paid services of "Smart Tender."
With the Development Bureau (DEVB) undergoing a comprehensive review of the Operation Building Bright 2.0 scheme, the government will allocate HK$3 billion to draw up a new subsidy programme.
An additional HK$1 billion will be allocated to extend the Lift Modernisation Subsidy Scheme, providing further subsidies to property owners to enhance building safety.
