Hong Kong’s rare plot incentive will help resurrect decaying districts, analysts say

Hong Kong's government is launching a bonus plot ratio pilot scheme next month to encourage the redevelopment of older neighborhoods. Analysts believe this initiative will help revive areas like Sham Shui Po, where development has been hindered by a slow property market and urban decay. The scheme will offer private developers an additional 20% of gross floor area or an equivalent land premium value in seven designated old districts. This financial incentive aims to address the issue of acute urban decay prevalent in these older parts of the city.