This will alleviate the shortage of options and further rental increases. The recent development of Kwun Tong has been a good example.
As the government agenda has adhered to sustainability, the policy could contain more incentives for the owners to include various green features in the building design and usage. Many existing industrial buildings are built in urban areas with good connectivity.
As more and more users from different industries seek industrial space, the net supply of factory space is expected to remain negative until at least Revitalization of industrial buildings in San Po Kong. GFA still in progress.
Assistance to the six industries Due to the high rental levels of revitalized industrial units, it seems that the six industries are relatively weak to compete with other tenants who pose greater financial ability. It seems to contravene the fundamental goal of that policy, which is proposed to support the six industries through revitalizing industrial buildings.
The forth measure is proposed to encourage the factory owners to transform the old and under-utilized industrial buildings to other higher value-added uses through relaxation of relevant regulations and restrictions.
Previously they had the option to expand within the HKSTP industrial estates but these are currently full, and the amnesty on both first and second hand transactions has caused a blockage to development.
It encouraged gentrification and has been a catalyst for much the needed facelift of emerging commercial areas, primarily within Kowloon East, such as Kwun Tong. This is certainly an option that should be explored.
In the recent years, the cultural workers tend to rent the industrial buildings as a workshop or studio because of comparatively lower rentals, thus forming the industrial art regions.
It has increased the operation cost and financial burden of the small enterprises, especially for the cultural and artistic groups.
With the increasing number of user groups in search of industrial space for e-commerce related warehousing and alternative purposes ranging from self-storage and data centers to catering and arts, it seems that the end of the scheme will be welcomed by many, apart from the wealthy landlords.
People can taste wines and even DIY own wines. There are several reasons, leading to the change of landuse and the start of the scheme. Through the Scheme of Control Agreementthe owners should operate the subsidized units within a designated rental level for the exchange of free financial subsidies, relaxation of certain planning regulations and provision of technical assistance.
It also exempts owners who opt for the entire conversion of existing industrial buildings, instead of redevelopment, from paying waiver fees for a change of land use — subject to conditions. The surplus factory buildings have become unoccupied and so their market values have remained low when compared with other property sectors.
Last but not the least, concerning the environmental issues, the old dilapidated industrial buildings scattered around metro areas have lead to unfavorable hygienic condition and undesirable environmental pollution, causing disturbance to the residents nearby.
The constant amendment of Outline Zoning Plan has caused numerous industrial buildings located within the non-industrial zones, encouraging the restructuring of industrial buildings through lease modification. Besides that, the demolition process intensifies the environmental pollution and resources wastage.
This figure will continue to drop as more industrial space is withdrawn as approved revitalization projects are completed and little new supply is added.
Now, with the impending expiration of the scheme, more industrial property owners are flocking in to submit their revitalization plans to the Town Planning Board.
Given the shortage of supply, industrial rents will continue to rise in the foreseeable future. The goal of the scheme was to relieve shortages in the commercial property sector by facilitating the transformation of industrial buildings into offices, hotels and retail space.
The Urban Renewal Authority URA has initiated pilot schemes for redevelopment of two old industrial buildings, one in late and one in early Firstly, due to the location  and environment of the premises, for instance, no windows or sunlight hinders the transformation of buildings for other business purposes such as inns and hotels.
Official Record of Proceedings 3. In our recent report on the impact of the scheme, we highlighted that a total of 5. In the economical view, the obsolete factory buildings in urban areas have caused reduction in land value, wastage of precious land resources and expenses of heavy maintenance cost.
Assistance to the six industries Due to the high rental levels of revitalized industrial units, it seems that the six industries are relatively weak to compete with other tenants who pose greater financial ability. Old industrial buildings require significant maintenance and upkeep, and the government will still need to find a way to ensure that owners maintain their assets to a proper, safe standard.
This will lead to a better economic use of land resources and a more visually attractive urban landscape. It speeds up the pace of urban renewal. However, the owners are required to pay expensive premium under these three measures.
Hong Kong has also witnessed a rebound in the manufacturing sector in recent years.Analysis of Building. Topics: Concrete, The building should provide happy environment inside as well as outside. Therefore, the functional planning of a building must take into account the proper arrangements of room/halls to satisfy the need of the client, good ventilation, lighting, acoustics, unobstructed view in the case of community.
Aug 23, · Policy Analysis on Industrial Building Revitalization 1. Background In the past few decades, Hong Kong has undergone economic transformation from secondary industry to tertiary service.
Due to the northern movement of the manufacturers and industrialists for the relocation of production activities, the demand of industrial buildings.
Impacts of the Revitalizing Industrial Buildings (RIB) Scheme in Hong Kong Revitalization policy. • Analysis using factor analysis method. B5 The revitalization of industrial buildings can create more job openings and business opportunities (−ve) Macro-economic impact to the community.
The measures to encourage revitalization of industrial buildings were discussed at the meeting of the Panel on Development on 27 Octoberand at the debate on the Policy Address in the. Policy Analysis on Industrial Building Revitalization 1.
Background In the past few decades, Hong Kong has undergone economic transformation from /5(). To make better use of vacant and under-utilized industrial buildings, the government introduced a revitalization policy in Its objective is to provide readily available land and premises to meet the short-term economic and social needs of Hong Kong.Download