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Adams, D and Hastings, E M (2000) Making urban renewal pay: the Hong Kong experience. Journal of Financial Management of Property and Construction, 5(01), 79–84.

  • Type: Journal Article
  • Keywords: Hong Kong; land policy; public-private development partnerships; urban renewal
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    This paper evaluates the initial operations of the Land Development Corporation, established by the Hong Kong Government in 1988 to undertake, encourage, promote and facilitate urban renewal. It demonstrates how, in the absence of significant public funding, the Corporation had to rely on innovative forms of partnership with leading private-sector developers. The LDC's initial activities were thus concentrated on projects likely to produce the highest financial return rather than necessarily contribute most to urban renewal. The paper suggests more extensive urban renewal in Hong Kong may be hard to achieve without acceptance that such activities cannot be always financially viable.