I. Who undertakes redevelopment projects?
In a large-scale property redevelopment, the following entities are usually the only parties that acquire land for redevelopment:
- the Urban Renewal Authority (URA), or
- property developers.
If the URA or property developers want to redevelop an area, they first consider acquiring the land by private agreement with the existing owners. If they cannot acquire the entire interest in the land, they may acquire the rest through land resumption or compulsory sale.
Property developers can apply for a compulsory sale order for all interest in the land under the Land (Compulsory Sale for Redevelopment) Ordinance ( Cap. 545 of the Laws of Hong Kong) for the purpose of redevelopment.