Ning Hanhao: A grant of 300 million will be allocated to the Urban Renewal Authority for the enhanced "Tendering Agreement," and a dedicated team will be established to provide services

The Development Bureau earlier announced the implementation of an enhanced "Tendering Scheme" in collaboration with the Urban Renewal Authority to assist corporations and owners in hiring compliant consultants and contractors for proper building maintenance works. The Secretary for Development, Ning Hanhao, stated that he hopes to provide citizens with a "sense of security." Therefore, in the new "Financial Budget," a total of HKD 300 million will be allocated to the Urban Renewal Authority, with HKD 100 million designated as start-up funds to establish a dedicated team, including considering the establishment of a subsidiary responsible for providing enhanced "Tendering Scheme" services; the remaining HKD 200 million will continue to provide financial relief for owners using the "Tendering Scheme."

Additionally, the "Building Renewal Campaign 2.0," launched in July 2018, has invested HKD 6 billion to assist needy private building owners in carrying out large-scale maintenance works. This funding will be fully allocated, and the government has reserved HKD 3 billion to continue the program. Ning Hanhao stated that a review will be completed early next year, followed by consultations with the Legislative Council's Development Affairs Committee. The updated building maintenance subsidy plan will be launched after formally applying for funding from the Finance Committee next year