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Written by: Wang Jieen
2021-02-07 11:09
The last update date: 2021-02-07 11:09
The Kwun Tong City Centre is the largest redevelopment project of the URA. It is developed in five phases, of which the construction of the second and third development zones has been completed.
The URA has announced earlier that some operators of structures in the Fifth Development Zone will relocate to "Yuminli" in the shopping mall and resume operations.
The Chief Executive Officer of the URA, Wei Zhicheng, published a blog today (7th), referring to the economic challenges brought about by the epidemic. Therefore, the URA will provide a 6-month rent-free arrangement starting from the signing of the lease agreement with the returning households in March until At the end of August.
The URA pointed out that on both sides of the "Yu Man Lane" store, old photos of the old Yu Man Square will be added as decoration to show the style of the old Kwun Tong.
Picture of URA)
15 returning households are preparing to resume business
Wei Zhicheng pointed out that the shopping malls in the project, together with the "Yuminli" reserved for the operators of the Fifth Development Zone to relocate and resume business, are undergoing inspection and acceptance of the decoration works and trial operation of electrical and mechanical facilities. They are expected to open in April this year.
He said that 15 returning households who chose to move from the buildings in Yuminfang to the new shopping mall are preparing to resume business.
Provide a 6-month rent reduction
Wei Zhicheng also pointed out that due to the economic challenges brought about by the epidemic, the URA will provide a 6-month rent-free arrangement starting from the signing of lease agreements with returning households in March until the end of August.
Therefore, returning households only need to pay the rent under the lease agreement starting in September.
Wei continued that as returning households mainly provide groceries, household goods, snacks and beverages and other popular goods and services, their shop rents will account for a higher percentage of total sales compared to other larger supermarkets, retail and restaurants in the mall. .
Therefore, the URA will provide a 50% reduction in management fees for returning households for a period of three years.
In addition, according to the "Relocation Arrangement" provided by the URA to structure operators earlier, the merchants who choose to continue to operate the reserved shops in "Yu Min Lane" will receive half of the market rent or rateable rent. Benchmark, enjoy preferential rent, for a period of three years.
Hawker market and public transport interchange are expected to be operational in 2 months
In addition, about 110 licensed fixed-stall hawkers are involved in the redevelopment project.
Wei Zhicheng said that it is expected that the new permanent bazaar will be put into service in April at the same time as the shopping malls in the second and third development zones and "Yu Min Li".
He described that in about two months, new shopping malls, hawker markets, and a covered public transport interchange with one of the largest areas in Hong Kong will be put into operation.
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URA Kwun Tong
