Encourage the Provision of Residential Care Homes for the Elderly

The Lands Administration Office of Lands Department launched a new Practice Notice on 21 June regarding Incentive Scheme to encourage the provision of Residential Care Homes for the Elderly (RCHEs). The original scheme provided land premium exemption for eligible RCHEs, but only received seven applications in 20 years.

The new pilot scheme, lasting until June 2026, expands the concession area and allows for GFA exemption for RCHEs in new developments. The Town Planning Board and the Building Department may permit higher plot ratios during the pilot period. New development could therefore be elevated by the area concession to gain better view, and potentially enhancing the values of development sites.

Report from Singtao: https://lnkd.in/gUvhm2RU