Press Release

Housing Society Launches "Building Management and Maintenance Scheme" to Help Rejuvenate Old Districts

The Hong Kong Housing Society (HKHS) signed a Memorandum of Understanding with the Housing, Planning and Lands Bureau today and announced its soon-to-be launched "Building Management and Maintenance Scheme" (BMMS) to facilitate owners to improve the management and maintenance of their old properties. HKHS has earmarked an amount of $3 billion for the coming 10 years to implement the scheme which aims to benefit 800 buildings each year.

The "BMMS" covers four scopes of work, namely education and publicity; guidance and advice; incentives and assistance, as well as an interest-free loan. For incentives and assistance, HKHS will roll out the "Building Management Incentive Scheme" to help owners of old private residential buildings form Owners Corporations; whereas the "Building Maintenance Incentive Scheme" will subsidize repair and maintenance works of buildings aged over 20 years. Besides, the "Home Renovation Loan Scheme" will offer interest-free loans to home owners of old buildings to carry out repair and maintenance works for their flats in relation to safety and hygiene.

Following the establishment of the first Property Management Advisory Centre in Shamshuipo in April last year, five more such centres will be opened in various districts within the coming year to provide comprehensive technical advisory services to the owners. HKHS has also compiled a set of "Guidelines for Building Management" for reference of the public and appointed professional consultants to carry out research studies on various aspects of building maintenance and repair. Results of the studies will also be made available to the public.

"The BMMS is characterized by its one-stop services, from assisting the owners to realize their own rights and responsibilities, form Owners Corporations, appoint Management Companies, to helping them carry out maintenance works. We will provide the owners with necessary assistance and subsidies. The scheme will not only improve the overall quality of buildings in Hong Kong, but also help the owners add value to their properties. We hope to assist the government to expedite the rejuvenation of old districts and improve the living environment of the people with our professional knowledge and abundant experience," said HKHS Chairman Mr David C Lee.

The "Building Management Incentive Scheme", "Building Maintenance Incentive Scheme" and "Home Renovation Loan Scheme" will be open for application on 1 February. Interested parties may call the hotline at 2882-1717 or visit the HKHS website at http://www.hkhs.com for more information.